Friday, November 13, 2009

Storage Up Again

I was a little disappointed, but not surprised given the relatively warm weather last week, to see a 25 Bcf increase in natural gas storage this week.  The 0.7% increase in working gas in storage brought the figure to 3.813 Tcf.  Since storage levels eclipsed their previous record high levels in September, this is obviously yet another new high. The map below shows that temperatures across the country were pretty mild last week and generally above normal for this time of year.

While I was disappointed to see growth in storage, I note that the 25 Bcf is lower than both last year's injection (54 Bcf) and the five year average (30 Bcf).  The differential over last year shrunk from 11.1% to 10.1%, and the differential over the five year average shrunk from 12.3% to 12.0%.  While it is slight progress in the right direction, the graph of the current year versus the five year average is still ugly.

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