In the News:
Natural gas storage sees first net withdrawal of season
EIA earlier today reported the first net natural gas withdrawal of the heating season from Lower 48 storage facilities. This report covered the week ending November 15, following several days of cold weather-driven gas demand in the Northeast and Midwest. Stock levels recorded on November 8 of 3,834 billion cubic feet (Bcf) would mark the 2013 natural gas inventory peak if storage withdrawals continue in the coming weeks. Working natural gas inventory levels on November 8 were 84 Bcf below year ago inventories, and marked the fifth-highest annual level recorded by EIA, following a recent trend of high inventories at the start of winter.
Inventories started the injection season in April at 1,724 Bcf, more than 30% below the April 2012 level. This was largely a reflection of the record-high levels at the start of the injection season in 2012, following a warm winter with reduced residential and commercial consumption for heating coupled with robust production. Although inventories have remained below 2012 levels, the year-over-year deficit recorded at the beginning of the injection season was nearly overcome by average weekly injections through November 8 that were 44% higher in 2013 than 2012. This was largely a result of modest increases in natural gas production combined with a reduction of natural gas consumed for power generation (power burn) this year compared to 2012....MUCH MORE
| U.S. Natural Gas Supply - Gas Week: (11/13/13 - 11/20/13) | ||
|---|---|---|
Percent change for week compared with:
|
||
last year
|
last week
|
|
| Gross Production |
3.01%
|
-0.78%
|
| Dry Production |
2.99%
|
-0.77%
|
| Canadian Imports |
14.73%
|
-4.98%
|
| West (Net) |
3.26%
|
1.37%
|
| MidWest (Net) |
90.57%
|
-2.41%
|
| Northeast (Net) |
-50.12%
|
-34.07%
|
| LNG Imports |
-45.29%
|
-4.32%
|
| Total Supply |
3.47%
|
-1.09%
|
| Source: BENTEK Energy LLC | ||
And the Daily chart over the last year:
