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US weekly gas storage build falls short of estimate at 104 Bcf


According to Market Intelligence, December 2022


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US weekly gas storage build falls short of estimate at 104 Bcf

Storage operators put a net 104 Bcf into natural gas inventories in the Lower 48 in the week ended Oct. 11, above the five-year-average build of 81 Bcf, the U.S. Energy Information Administration reported.

The injection, which was below the 108 Bcf build forecast by an S&P Global Platts analyst survey, brought total Lower 48 working gas supply to 3,519 Bcf, or 494 Bcf above the year-ago level and 14 Bcf above the five-year average.

By region:

* In the East, storage levels rose 26 Bcf on the week at 880 Bcf, 9% above a year ago.

* In the Midwest, stockpiles rose 35 Bcf at 1,044 Bcf, 16% above the year-ago level.

* In the Mountain region, storage levels climbed 2 Bcf at 205 Bcf, 16% higher than the year-ago level.

* In the Pacific region, stockpiles stayed unchanged at 296 Bcf, 12% more than the year-ago level.

* In the South Central region, storage levels were up 39 Bcf at 1,093 Bcf, 25% more than a year ago. Of that total, 246 Bcf of gas was in salt cavern facilities and 847 Bcf was in non-salt-cavern facilities. Working gas stocks rose 7% in salt cavern facilities from the week before and were up 2.7% in non-salt-cavern facilities.

S&P Global Platts and S&P Global Market Intelligence are owned by S&P Global Inc.