Thursday, August 19, 2010

EIA: Storage +27 Bcf to 3.012 Tcf

The weekly EIA working gas in storage report showed a 27 Bcf net injection, bringing the level of gas in storage to 3.012 Tcf.  The net injection was 50% lower than last year's injection (+54 Bcf) and 46% lower than the five year average (+50 Bcf).  The current storage level is 5.8% lower than last year's figure this week (-185 Bcf) and 7.0% higher than the five year average (+196 Bcf).  We've seen improvements in the storage situation for the past couple of months and it is finally starting to show up graphically on the famous band graph:


A couple of interesting notes.  First, the current storage level in the East Region, the biggest of the three regions, is now only 1.0% higher than the five year average.  Second, the Producing Region, the second largest region, showed a 16 Bcf net withdrawal, which is not unheard of but is not altogether common this time of year.  As the graphic below shows, the warm weather certainly contributed to the low net injection.

1 comment:

PAPA ROACH said...

I'll say it again, the driver of this years deficit is weekly additions has benn and continues to be due to the hottest summer on record thusfar, especially hot in the producing region, hence the draws.

Here is a snippet from yesterdays EEI weekly report-
MARKET TALK: US Electricity Demand Last Week 6.2% Above '09-EEI




[Dow Jones] U.S. electricity demand last week was 6.2% higher than the same week a year ago,
the Edison Electric Institute reports. Americans used 94,254 gigawatt-hours of electricity in
the week ended Aug 14, about 2.2% more than the previous week, the EEI reports. Seven of the
nine regions in the 48 contiguous states posted increases over 2009 in electric output, with
the West Central region posting the largest increase at 11.2%. Year to date, power demand is up
4.4%. The EEI's seasonally adjusted weekly electrical index was 11 points higher at 189,
relative to last year. (mark.peters@dowjones.com)



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2010-08-18 15:58:34 UTC
^^^^^^