Thursday, July 12, 2012

EIA Weekly Natural Gas Storage Report: Up 33 Bcf

The report covers the week ended July 6th i.e. the second week of the East coast heatwave.
One datapoint to begin tracking: storage in the producing region which will top off before total storage and is at 79% of capacity.
In a generally down energy complex the front futures are up 1.7 cents at $2.87.
From the EIA:

Released: July 12, 2012 at 10:30 a.m. (eastern time) for the Week Ending July 6, 2012.
Next Release: July 19, 2012

Working Gas in Underground Storage, Lower 48
Region Stocks in billion cubic feet (Bcf) Historical Comparisons
07/06/12 06/29/12 Change Year Ago (07/06/11) 5-Year (2007-2011) Average
Stocks (Bcf) % Change Stocks (Bcf) % Change

Working gas in storage was 3,135 Bcf as of Friday, July 6, 2012, according to EIA estimates. This represents a net increase of 33 Bcf from the previous week. Stocks were 548 Bcf higher than last year at this time and 516 Bcf above the 5-year average of 2,619 Bcf. In the East Region, stocks were 229 Bcf above the 5-year average following net injections of 20 Bcf. Stocks in the Producing Region were 196 Bcf above the 5-year average of 923 Bcf after no net change in stock levels. Stocks in the West Region were 92 Bcf above the 5-year average after a net addition of 13 Bcf. At 3,135 Bcf, total working gas is above the 5-year historical range.

Working gas stocks in the Producing Region, for the week ending July 6, 2012, totaled 1,119 Bcf, with 251 Bcf in salt cavern facilities and 868 Bcf in nonsalt cavern facilities. Working gas stocks decreased 7 Bcf in the salt cavern facilities and increased 8 Bcf in the nonsalt cavern facilities since June 29. An historical series of the salt and nonsalt subtotals of the Producing Region is available for download at: wngsr_producing_region_salt.xls.