Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.


  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list
Natural Gas

Analysts forecast US natural gas in storage to rise 57 Bcf: survey

LNG | Natural Gas | Natural Gas (North American)

LNG developers jockey for relevance at Gastech

Natural Gas | Oil

Platts Wellscape P2P

Commodities | Energy | Electric Power | Emissions | Renewables | Natural Gas | Natural Gas (North American)

Northeast Power and Gas Markets Conference, 14th Annual

LNG | Natural Gas

Petronet deal endorses Tellurian business model in crowded US LNG field

Analysts forecast US natural gas in storage to rise 57 Bcf: survey

Highlights

Estimated injection would be second-smallest since April 5

Lower export demand to exacerbate oversupply in August

Denver — Analysts expect US natural gas in storage to rise 57 Bcf for the reporting week ended Friday, which would be the second-smallest build reported since early April.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

The US Energy Information Administration is expected to report the 57 Bcf injection for the week ended August 2, a survey of analysts by S&P Global Platts showed.

Responses to the survey stayed in a narrow range from 54 Bcf to 65 Bcf. The EIA plans to release its weekly storage report at 10:30 am EDT Thursday.

A 57-Bcf injection would be more than the 46 Bcf build in the corresponding week last year, as well as the five-year average injection of 43 Bcf.

An injection within expectations would increase stocks to 2.691 Tcf. The deficit versus the five-year average would shrink to 109 Bcf and the surplus to last year would expand to 345 Bcf.

The injection still looks to be less than the week prior, when the EIA reported a 65 Bcf build.

SUPPLY, DEMAND

In August, US gas production has hit fresh highs, keeping the domestic market well supplied.

Late last week, output surpassed the 90 Bcf/d milestone for the first time, followed by successive record highs culminating Monday at 90.5 Bcf/d, data from S&P Global Platts Analytics shows.

Recent supply strength has been coupled with weaker export demand, thanks to recent maintenance and commissioning activity at several US LNG export terminals.

On Monday, a spokesman for Cheniere Energy confirmed a weekend startup to maintenance on trains 3 and 4 at the company's Sabine Pass terminal in Louisiana.

Feedgas flows to the facility have since declined sharply, averaging about 2.4 Bcf/d since Saturday, down from a prior 14-day average at 3.7 Bcf/d. Ongoing commission activity at Cheniere's Corpus Christi terminal in Texas has also seen flows there decline by more than 550 MMcf/d since Saturday.

Total US feedgas demand was estimated at 4.3 Bcf/d Tuesday, down from recent highs at over 6 Bcf/d, Platts Analytics data shows.

OUTLOOK

Strong power burn, which has averaged over 40 Bcf/d in this month should continue to support US domestic gas demand through the second week of August, current forecasts show.

There are few other factors supporting demand in the market currently, though, according to Kent Berthoud, a storage analyst with Platts Analytics.

In addition to recent maintenance and commissioning-related demand setbacks, export demand from Mexico has continued to hover around 5.3 Bcf/d this month, well below prior expectations.

Indefinitely delayed startup of the Sur de Texas-Tuxpan pipeline, which is now the subject of arbitration proceedings between Mexico's CFE and developers TC Energy and IEnova, could ultimately provide a new outlet for upwards of 1 Bcf/d of US supply.

-- J. Robinson, jrobinson@spglobal.com

-- Edited by Richard Rubin, newsdesk@spglobal.com