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Lower 48 weekly gas injection of 65 Bcf beats analyst expectations

Natural gas storage operators put a net 65 Bcf into Lower 48 inventories in the week to July 26, above the five-year-average build of 37 Bcf, the U.S. Energy Information Administration reported.

The injection, which topped a 52-Bcf build forecast by an S&P Global Platts analyst survey, brought total Lower 48 working gas supply to 2,634 Bcf, or 334 Bcf above the year-ago level and 123 Bcf below the five-year average.

By region:

* In the East, stockpiles grew 22 Bcf on the week at 597 Bcf, 9% above the year-ago level.

* In the Midwest, stockpiles rose 27 Bcf at 677 Bcf, 24% higher than the year before.

* In the Mountain region, storage levels were up 5 Bcf at 156 Bcf, 7% above the year before.

* In the Pacific region, stockpiles fell 1 Bcf at 270 Bcf, 8% more than the year-ago level.

* In the South Central region, inventories rose 13 Bcf at 934 Bcf, 15% above the year before.

Of that total, 226 Bcf of gas was in salt cavern facilities and 708 Bcf was non-salt-cavern facilities. Working gas stocks fell 1% in salt cavern facilities from the week before and rose 2.3% in non-salt-cavern facilities.

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