With underground storage exceeding 2.5 Tcf by August 15 and nearly 80 days remaining in the traditional injection season, an inventory of 3.5 Tcf or more to enter the winter appears very likely. A strong summer long injection season has been supported by cooler than normal temperatures, minimal supply disruptions due to hurricane activity and continued growth in domestic production.
When the 2014-15 winter begins, the nearly 4 Bcf per day of incremental production growth dating back to the beginning of the year will still be with us and will be a part of supply assets in place to meet winter heating season demand. Efficiency measures will still be putting downward pressure on average consumption per customer and in the local gas utility segment, more distribution pipeline will have been modernized creating a safer system. So many moving parts – and so many moving in the right direction.
Visit this link to download the full Natural Gas Market Indicators report. Topics covered in this week’s report include: Reported Prices, Weather, Working Gas in Underground Storage, Natural Gas Production, Shale Gas, Rig Counts, Pipeline Imports and Exports, and LNG Markets.