Thursday, February 18, 2010

Gas in Storage Down 190 Bcf

The weekly EIA natural gas in storage report showed a net withdrawal of 190 Bcf last week to bring the total gas in storage figure down to 2.025 Tcf.  The weekly withdrawal narrowed the spread between the current year compared to last year and the five year average.  The withdrawal last year at this time was 44 Bcf and the five year average was 129 Bcf. 

The weekly withdrawal represented a decrease of 8.6% of the storage amount, with the largest percentage decrease in the East Region (-9.3%) and the smallest in the West Region (-6.4%).  With the large withdrawal, the gas in storage in the East Region, the largest consuming region, is now slightly below the five year average (-1.7%).  The biggest surplus is in the West Region (+19.3%), which has the smallest amount of storage.

The weather map for last week pretty much shows the colder weather, which lead to the strong withdrawal of gas (although it may have been lower than the expectations set by those stuck at home by the snow).

1 comment:

Anonymous said... : natural gas tumbles on large supplies !!!
EIA: stocks were 26 Bcf higher than last year at this time and 53 Bcf above the 5-year average…LARGE SUPPLIES?? Do they know at least about what they speak?.