Edit ModuleShow Tags

U.S. Natgas Withdrawals Set Record

EIA says underground inventories at 11-year low


Published:

The U.S. Energy Information Administration (EIA) reports that a winter of prolonged, widespread, bitter cold weather throughout much of the United States led to record-breaking natural gas withdrawals and brought inventories to an 11-year low.

EIA projected winter withdrawals of 2851 Bcf (80.7 x 109 m3). From Nov. 1, 2013 through March 10, 2014, U.S. consumption of gas averaged 91.2 Bcfd (2.58 x 109 m3/d), 10% higher than last winter and 13% over the average during the past five winters.

The agency said during the April-though-October injection season, operators will keep compressors running in order to replenish storage caverns and fields with 2500 Bcf (70.8 x 109 m3), surpassing the 2001 record by more than 90 Bcf (2.5 x 109 m3), and ending the injection season at 3459 Bcf (98 x 109 m3).

It said that should be no problem. Spot prices, slightly above US$4/MMBtu, will be high enough to keep electric power consumption of gas essentially flat compared to levels a year ago. Meanwhile, gas production will rise 2% to 68.1 Bcfd (1.9 x 109 m3/d).

Edit ModuleShow Tags

Archive »Recent Articles

Clarke Energy Adds Onto Its GE Distributor Load

GE announced that Clarke Energy will serve as a new authorized distributor and service provider for its Waukesha gas engines and genuine parts in Australia.

FS-Elliott Introduces SteadiAIR 5 Warranty

FS-Elliott Co., LLC, a manufacturer of oil-free centrifugal air and gas compressors, announced that its SteadiAIR 5 warranty is available on Polaris+ compressors.

Two Steps Back, Two Steps Forward For Natural Gas

Natural gas prices saw a slight drop at the beginning of the report week (July 22 to July 29), then bounced back to their starting point at most locations near the end of it, according to the U.S. Energy Information Administration (EIA).

Answer: Promised Land - July 2015

Promised Land - July 2015