Thursday, December 22, 2011

EIA: Storage -100 Bcf to 3.629 Tcf

The weekly EIA working gas in storage report showed a 100 Bcf decrease, bringing the natural gas storage level to 3.629 Tcf.  The net withdrawal was considerably lower than last year (-181 Bcf) and the five year average (-140 Bcf).  As a result of the weak injection, the current storage level continues to lag last year (+6.9% or 235 Bcf) and the five year average (+11.9% or 387 Bcf).  The red line on the chart below tells the story - not a good way to start the winter season.

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