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59-Bcf weekly gas storage build misses analyst estimates

Storage operators injected a net 59 Bcf into natural gas inventories in the Lower 48 in the week to Aug. 16, above the five-year-average build of 51 Bcf, the U.S. Energy Information Administration reported.

The injection, which missed the 61 Bcf forecast by an S&P Global Platts analyst survey, brought total working gas supply in the Lower 48 to 2,797 Bcf, or 369 Bcf above the year-ago level and 103 Bcf below the five-year average.

By region:

* In the East, storage levels rose 26 Bcf on the week at 660 Bcf, 9% higher than a year ago.

* In the Midwest, storage levels rose 31 Bcf at 760 Bcf, 21% higher than a year earlier.

* In the Mountain region, storage levels rose 4 Bcf at 168 Bcf, 10% higher than the year-ago level.

* In the Pacific region, inventories grew 2 Bcf at 274 Bcf, 15% above the year before.

* In the South Central region, inventories were down 4 Bcf at 935 Bcf, 17% higher than a year earlier.

Of that total, 205 Bcf was in salt cavern facilities and 730 Bcf was non-salt-cavern facilities. Working gas stocks fell 4% in salt cavern facilities from the previous week and rose 0.7% in non-salt-cavern facilities.

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