Natural Gas Inventories Set Record
Monday, November 12, 2012
The U.S. Energy Information Administration (EIA) has reported that privately-held natural gas stocks were at record highs on Oct. 31, which is considered to be the end of the summer injection season.
EIA estimated that inventories in underground fields and storage caverns were 3.9 Tcf (1.1 x 1011 m3), a 3% increase over 2011 and 6.8% higher than the five-year average storage levels on Oct. 31 for 2007 to 2011.
“The 264 heating degree-days recorded for October 2012 was the highest level since October 2009. However, continued strong natural gas production ensured that inventory levels continued to grow,” the agency said.
The agency noted that although the natural gas storage injection season historically is defined as April through October, injections into storage have continued into November for the past several years.
For more information: www.eia.gov