Trade Resources Industry Views US Eia to Estimate 4-8 Bcf Natural Gas Storage Injection: Survey

US Eia to Estimate 4-8 Bcf Natural Gas Storage Injection: Survey

Tags: Natural Gas

A consensus of analysts surveyed by Platts expects the US Energy Information Administration on Wednesday will estimate a natural gas storage injection of between 4 Bcf and 8 Bcf for the reporting week that ended November 20.

The EIA plans to announce the weekly storage data at noon EST (1700 GMT) Wednesday.

The data is usually released on Thursday each week, but the schedule has been altered this week because of the Thanksgiving holiday.

An injection within expectations would increase storage levels to a new record in a range of 4.004 Tcf to 4.008 Tcf.

An injection would also contrast with a withdrawal of 162 Bcf at this time in 2014 and a five-year average withdrawal of 36 Bcf.

The wider range of analysts' expectations for this week was from a withdrawal of 5 Bcf to an injection of 17 Bcf.

Last week, the EIA reported a 15-Bcf injection that increased inventories to 4 Tcf, which was 404 Bcf, or 11.2%, higher than the year-ago inventory of 3.596 Tcf, and 207 Bcf, or 5.5%, above the five-year average of 3.793 Tcf.

Source: http://www.platts.com/latest-news/natural-gas/houston/us-eia-to-estimate-4-8-bcf-natural-gas-storage-26288385
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Topics: Metallurgy