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Weekly US gas storage build of 55 Bcf misses analyst estimates

Natural gas storage operators put a net 55 Bcf into Lower 48 inventories during the week ended Aug. 2, above the five-year-average build of 43 Bcf, the U.S. Energy Information Administration reported.

The build, which missed the 57-Bcf injection forecast by an S&P Global Platts analyst survey, brought total working gas supply in the Lower 48 to 2,689 Bcf, or 343 Bcf above the year-ago level and 111 Bcf below the five-year average.

By region:

* In the East, storage levels grew 16 Bcf on the week at 613 Bcf, 7% more than the year-ago level.

* In the Midwest, inventories grew 24 Bcf at 701 Bcf, 22% higher than a year earlier.

* In the Mountain region, stockpiles rose 5 Bcf at 161 Bcf, 9% more than the year before.

* In the Pacific region, inventories were up 2 Bcf at 272 Bcf, 11% more than the year before.

* In the South Central region, inventories were up 7 Bcf at 941 Bcf, 17% above the year before.

Of that total, 221 Bcf of gas was in salt cavern facilities and 719 Bcf was non-salt-cavern. Working gas stocks dropped 2% in salt cavern facilities from the week before and gained 1.6% in non-salt-cavern facilities.

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