WASHINGTON, — The U.S. Energy Information Administration (EIA) on Thursday is expected to report a 30-billion cubic feet (Bcf) injection for the week ended August 10, according to a survey of analysts by S&P Global Platts, the leading independent provider of information and benchmark prices for the commodities and energy markets.
Responses to the survey ranged for a build of 21 Bcf to 37 Bcf. The EIA plans to release its weekly storage report on Thursday at 10:30 a.m. EDT.
A 30 Bcf injection would be less than the 49 Bcf build in the corresponding week last year and also less than the five-year average build of 56 Bcf. Platts Analytics' storage model predicts an injection of 28 Bcf while the supply and demand model calls for a 29 Bcf build.
An injection within analysts' expectations of 30 Bcf would increase stocks to 2.384 trillion cubic feet (Tcf). The deficit versus the five-year average would increase to 598 Bcf while the deficit versus last year in the corresponding week would expand to 690 Bcf.
The EIA reported a 47 Bcf injection for the week ended August 3. It expanded inventories to 2.354 Tcf, which was 22% less than the year-ago inventory of 3.025 Tcf, and 20% less than the five-year average of 2.926 Tcf.
"Gas-fired power demand continues to be far and away the decisive factor for the week, with a 20 Bcf increase in estimated demand outshining both marginal production gains and some smaller dips from other demand segments" said Kent Berthoud, a storage analyst with S&P Global Platts. "Regionally, the South Central is expected to bear the brunt of the change, shifting from a withdrawal of 1 Bcf to 13 Bcf."
The weekly analyst survey is conducted by S&P Global Platts' editorial team, and is published every Wednesday, one day ahead of the 10:30 a.m. (ET) Thursday release of the weekly natural gas storage report of the U.S. Energy Information Administration. Platts has been conducting this survey since January 2007. The survey includes 15 to 25 analysts, some on a rotational basis.
**In its weekly natural gas report, the EIA divides the U.S. into five storage regions: East, Midwest, South Central, Mountain and Pacific. The full listing of the states that comprise each can be found here .
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