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63-Bcf weekly gas storage injection trails 5-year average


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63-Bcf weekly gas storage injection trails 5-year average

Natural gas storage operators deposited a net 63 Bcf into Lower 48 inventories in the week to Aug. 31, lagging behind the five-year-average build of 65 Bcf, the U.S. Energy Information Administration reported.

The build, which exceeded the S&P Global Platts survey expectation of 60 Bcf, brought total working gas supply to 2,568 Bcf, or 63 Bcf above the year-ago level and 590 Bcf below the five-year-average.

By region:

* In the East, stockpiles grew 22 Bcf on the week at 662 Bcf, down 15% from the year before.

* In the Midwest, storage levels rose 32 Bcf at 699 Bcf, down 19% from a year earlier.

* In the Mountain region, stockpiles grew 5 Bcf at 162 Bcf, down 21% from the year-ago level.

* In the Pacific region, inventories were up 5 Bcf at 246 Bcf, 17% below the year-ago level.

* In the South Central region, inventories fell 1 Bcf at 799 Bcf, down 25% from the year before.

Of that total, 178 Bcf of gas was in salt cavern facilities and 621 Bcf was non-salt-cavern facilities. Working gas stocks fell 3% in salt cavern facilities from the week before and were up 0.6% in non-salt-cavern facilities.

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