Record natural gas storage to offset anticipated winter usage
The volume of natural gas currently in storage in the United States reached a record high on November 4, with 4,017 billion cubic feet (Bcf) retained in working stocks across the country.
According to the Weekly Natural Gas Storage Report released by the U.S. Energy Information Administration (EIA), a mild winter curbed demand through the colder months, leaving considerable reserves intact at the beginning of spring.
The previous storage record for natural gas reserves was set in 2015, but notably later in the season, reaching 4,009 Bcf during the week of November 20.
Presently, the South Central, Pacific and East regions remain below their one-year maximum inventory levels, while the Midwest and Mountain regions exceeded and remained above previous maximum capacity. Although injection season ordinarily runs from April through October, additional injections may still be made in the coming weeks, most likely in the South Central and East regions.
Data from the National Oceanic and Atmospheric Administration suggests average household natural gas consumption in the United States will increase by approximately 8 percent this winter. Should these predictions prove accurate, the extra natural gas currently in storage will be depleted to end the season with less than 1,900 Bcf in reserve.
