EIA: Natural gas storage injections in 2016 ahead of 2012 pace

Photo courtesy of US Energy Information Administration

Energy Information Administration - Working gas stocks topped 3,000 Bcf during the first week of June—earlier in the refill season (April 1 – October 31) than ever before. The last time stocks reached this threshold in June was during the week ending June 15, 2012. Comparable to 2012, working gas stocks entered the refill season this year at a record high level, totaling 2,492 Bcf on March 31, 19 Bcf above the previous 2012 record.

Natural gas production, consumption, and exports are considerably higher now compared with 2012. Despite these changes in the fundamentals, the relationship between the key factors determining the rate of injections into working gas remain intact. Although working gas stocks typically end the refill season within 200 Bcf of the previous five-year average, the pace of injections to reach that level can vary considerably, depending in large part on where working gas stocks start the refill season. The amount of gas in underground storage at the start of the refill season has ramifications for natural gas consumption, exports, production, and prices in the ensuing months. As in 2012, a high April 1 starting point and stronger than average power sector consumption contributed to lower than average weekly net injections.

See the original article here: http://www.eia.gov/naturalgas/weekly/?scr=email#jm-trends

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