U.S. NatGas Storage Injections at 12-Year Low
Wednesday, August 08, 2012
U.S. working gas injections are at a 12-year low halfway through the 2012 gas injection season, the April through October period when gas is stored underground in advance of the winter heating season.
The Energy Information Administration (EIA) said gas in storage grew 625 Bcf (17.7 x 109 m3) during April to June 2012, the smallest build since 564 Bcf (16 x 109 m3) in 1990.
Putting the data in perspective, the agency said underground storage capacity actually is about 75% full, a level not usually reached until late August or early September. It said that by November gas inventories will set a record of nearly 4 Tcf (113 x 109 m3).
EIA cited two factors for the below-average increase in inventories. First, power plant demand for gas is up 27% from the same period in 2011. Second, storage at the end of the 2011-2012 heating season was at a record high because of above-normal winter temperatures, limiting the volume of gas that could be injected earlier this year.
For more information: www.eia.gov