US gas storage nears 3 Tcf after 97 Bcf injection

摘要

Knoxville—With only six weeks left in the traditional injection season, the Energy Information Administration on Thursday reported a 97 Bcf build that lifted US inventories to 2.988 Tcf in the week ended September 19, just shy of the 3 Tcf mark. The injection was slightly above most analyst expectations in the 92-96 Bcf range and continued a 23 week trend of builds above the historical average. The build was well above the 79 Bcf five-year average injection as well as the 8 Bcf reported a year earlier, according to EIA data. The injection continued to chip away at historical deficits. Total stocks now sit at a 386 Bcf, or 11.44%, deficit to last year’s 3.374 Tcf inventory, while the deficit to the five-year average of 3.414 Tcf is now at 426 Bcf, or 12.5%.