Working gas in storage was 3,600 Bcf as of Friday, September 23, 2016, according to EIA estimates. This represents a net increase of 49 Bcf from the previous week. Stocks were 90 Bcf higher than last year at this time and 220 Bcf above the five-year average of 3,380 Bcf. At 3,600 Bcf, total working gas is above the five-year historical range.

Estimated Injection 54 Bcf

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Actual Injection 49 Bcf

Survey expects stocks to grow by 54 Bcf The US Energy Information Administration will estimate a 54-Bcf injection to natural gas in underground storage for the reporting week that ended September 23, according to a consensus of analysts surveyed by Platts. The EIA plans to release its weekly storage report at 10:30 am EDT Thursday. The expected injection would be just over half of the 99-Bcf build reported at this time in 2015 as well as the five-year average injection, which is 97 Bcf, according to EIA data. The below-average build would mark the 21st consecutive week the injection was significantly less than the five-year historical average and the year prior. An injection of that volume would also continue to shrink the storage surplus. Analysts’ estimates in the survey ranged from an injection of 46 Bcf to 65 Bcf. An injection within analysts’ expectations of 54 Bcf would grow stocks to 3.605 Tcf, 225 Bcf more than the five-year average and 95 Bcf more than the corresponding week last year. It would also pull stocks within 16 Bcf of the five-year maximum level.

 

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