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US weekly gas storage build tops estimate at 98 Bcf

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US weekly gas storage build tops estimate at 98 Bcf

Storage operators put a net 98 Bcf into natural gas inventories in the Lower 48 during the week to Oct. 4, above the five-year-average injection of 89 Bcf, the U.S. Energy Information Administration reported.

The injection, which was higher than the 97 Bcf forecast by an S&P Global Platts analyst survey, brought total working gas supply in the Lower 48 to 3,415 Bcf, or 472 Bcf above the year-ago level and 9 Bcf below the five-year average.

By region:

* In the East, storage levels rose by 28 Bcf on the week to 854 Bcf, 9% above the year-ago level.

* In the Midwest, storage levels were up by 36 Bcf at 1,009 Bcf, 17% more than a year ago.

* In the Mountain region, storage levels were up by 4 Bcf at 203 Bcf, 13% more than a year ago.

* In the Pacific region, storage levels were up by 5 Bcf at 296 Bcf, 13% above the year-ago level.

* In the South Central region, storage levels grew by 25 Bcf at 1,054 Bcf, 24% above the year before. Of that total, 229 Bcf of gas was in salt cavern facilities and 825 Bcf was in non-salt-cavern facilities. Working gas stocks were up 4% in salt cavern facilities from the week before and were up 2.0% in non-salt-cavern facilities.

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