Working gas in underground storage, Lower 48 states Summary text CSV JSN: Historical Comparisons: Stocks billion cubic feet (Bcf) Year ago (12/21/17). Energy Information Administration - EIA - Official Energy Statistics from the U.S. Government.
Northeast prices fall after cold front passes. Prices declined during the report week as temperatures warmed. Discount at Permian Basin trading hub persists. The discount reached an annual high in the last week of November.
Enbridge works to restore service following pipeline explosion in Tennessee. Dry natural gas production remained constant week over week. Demand falls, driven by decline in residential and commercial consumption. LNG exports decline week over week. Train 6 has been approved but is not yet under construction. LNG imports into Cove Point will continue later this month. The cargo was loaded at the Bonny terminal in Nigeria and is en route to Maryland, according to Bloomberg.
Net withdrawals from working gas storage are lower than the five-year average for the second week in a row. Net withdrawals from storage totaled Bcf for the week ending December 14, compared with the five-year —17 average net withdrawals of Bcf and last year's net withdrawals of Bcf during the same week. Working gas stocks totaled 2, Bcf, which is Bcf lower than the five-year average and Bcf lower than last year at this time.
In the Lower 48 states, total working gas stocks are Bcf lower than the five-year minimum, and every storage region is currently lower than the bottom of its five-year range.
The average near-month futures contract price is trading at a discount to the average spot price, which provides incentive for storage withdrawals. Price differences between the spot price and the futures price at the Nymex indicate economic incentives for withdrawals from working gas.
According to The Desk survey of natural gas analysts, estimates of the weekly net change in working natural gas stocks ranged from net withdrawals of Bcf to Bcf, with a median estimate of Bcf. Temperatures were lower than normal for the storage week and significantly colder than the previous week.
Northeast pipelines storage capacity. Low natural gas storage stocks contribute to recent natural gas futures price volatility tags: In Europe, utilities look to repurpose their assets in a low-carbon future tags: New projects expected to reverse Gulf of Mexico natural gas production declines tags: The Wolfcamp play has been key to Permian Basin oil and natural gas production growth tags: January Nymex prices remain close to spot prices throughout the injection season tags: Natural gas stocks end refill season lower than the five-year minimum in all regions tags: Consolidated Edison gets approval for natural gas demand response pilot program tags: New Gulf of Mexico projects expected to reverse natural gas production declines tags: Pipeline explosion in Canada leads to lower U.
Two new large pipelines placed into service in October are increasing Northeast takeaway capacity tags:
Net withdrawals from working gas storage are lower than the five-year average for the second week in a row. During most of , record natural gas production moderated natural gas prices and natural gas price volatility.
Two new large pipelines placed into service in October are increasing Northeast takeaway capacity tags: January Nymex prices remain close to spot prices throughout the injection season tags: