Gas Storage at Record Pace in U.S.
Friday, September 28, 2012
The U.S. Energy Information System (EIA) said working natural gas in storage increased 2.26 x 109 m3 the week ending Sept. 21, the highest weekly injection total of the 2012 injection season.
The season began with 7 x 1010 m3 in storage, coming out of a warm winter that required low withdrawals to meet depressed heating demand. In 2011, the injection season began with 4.5 x 1010 m3 in storage.
Because of the high stocks at the start, injections this summer have been below the 2007-2011 average. They also have been below the 2011 levels for all but three weeks. EIA projected that the inventory build for the year will be 4.17 x 1010 m3, the smallest since 1991.
Despite the low overall additions, the agency said stocks are at historical highs and should end the injection season on Oct. 31 at a record 1.12 x 1011 m3.
For more information: www.eia.gov