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Lower 48 gas storage build misses analyst estimates at 78 Bcf

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Lower 48 gas storage build misses analyst estimates at 78 Bcf

Storage operators injected a net 78 Bcf into natural gas inventories in the Lower 48 in the week to Sept. 6, above the five-year-average build of 73 Bcf, the U.S. Energy Information Administration reported.

The injection, which fell short of the 87 Bcf forecast by an S&P Global Platts analyst survey, brought total Lower 48 working gas supply to 3,019 Bcf, or 393 Bcf above the year-ago level and 77 Bcf below the five-year average.

By region:

* In the East, storage levels were up 25 Bcf on the week at 739 Bcf, 9% more than the year-ago level.

* In the Midwest, stockpiles were up 37 Bcf at 864 Bcf, 19% higher than the year-ago level.

* In the Mountain region, inventories were up 6 Bcf at 183 Bcf, 11% more than the year-ago level.

* In the Pacific region, inventories fell 1 Bcf at 275 Bcf, 10% higher than the year before.

* In the South Central region, stockpiles were up 11 Bcf at 958 Bcf, 19% above a year earlier.

Of that total, 199 Bcf of gas was in salt cavern facilities and 759 Bcf was non-salt-cavern. Working gas stocks were up 1% in salt cavern facilities from the previous week and rose 1.3% in non-salt-cavern facilities.

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