The EIA released its weekly Natural Gas Storage Report today, outlining how national natural gas stocks have changed in the last week.
In total, the EIA reports natural gas stocks rose by 46 Bcf last week, increasing to 2,354 Bcf from 2,308 Bcf. This is 22.2% below the 3,025 Bcf that was in storage at this point last year, and is 19.5% below the five-year average of 2,926 Bcf. This week’s storage build was in line with expectations, as analysts predicted a build of 48 Bcf.
Several regions saw a draw this week, with inventories decreasing by 1 Bcf in the South Central and 5 Bcf in the Pacific. The largest increases came in the East and Midwest regions, which added 23 Bcf and 27 Bcf, respectively.
Stocks in every region are below the five-year average. Gas in storage in salt stocks in the South Central region is the farthest below the five-year average for the area, at 27.3% below the average.
