Thursday, April 19, 2012

EIA: Storage +25 Bcf to 2.512 Tcf

The EIA reported a 25 Bcf net increase in working gas in storage, bringing the current inventory to 2.512 Tcf. The weekly injection was 17 Bcf below last year (+42 Bcf) and in line with the five year average (+26 Bcf). The current storage level is 53.1% above last year (1.641 Tcf) and 57.7% above the five year average (1.593 Tcf).

Temperatures last week were only slightly above normal but were cooler than last year's temperatures, which were unseasonably warm.


Bill Mendenhall said...

Ok! I'm in favor of taking small victories when they come. It's nice to see an almost flat curve (at least for a week or so) during the Spring shoulder season. Maybe the sharp rig count reduction, coal to gas switching, and curtailments are slowly having a positive effect on supply.

Robert Hutchinson said...

Another thing to consider is that a number of gas storage companies have stopped taking deposits from interruptable contracts to leave room for their bigger customers later in the season. I suspect we won't see too many spikes in storage over the next six months, just steady growth. The Bataan Death March of Gas.

Robert Hutchinson said...

Boy, that last post sounds grim and doesn't accurately reflect my mood on a beautiful spring day. Perhaps I should have used a smiley emoticon as punctuation :-]