EIA examines natural gas storage withdrawals

An Energy Information Administration (EIA) analysis attributed the increased demand for natural gas and near-record underground natural gas storage withdrawals in mid-February to colder than normal temperatures.

The EIA indicated the circumstances led to the nation’s second-largest reported withdrawal of natural gas from storage, per its Weekly Natural Gas Storage Report (WNGSR).

The analysis showed weekly stocks fell by 338 billion cubic feet (Bcf) in the week ending Feb. 19, 2021. The figure represents nearly three times the average withdrawal for mid-February while a record amount of natural gas (156 Bcf) was withdrawn during that week in the South Central region, which includes Texas.

The two most common space heating fuels in Texas are electricity and natural gas. Increases in electricity demand also impact natural gas demand because natural gas is the most prevalent electricity generation source in Texas and much of the South.

The EIA noted estimated domestic natural gas demand on Feb. 14, 2021, reached 148.3 Bcf, surpassing the previous single-day record set in January 2019, per IHS Markit. During the week ending Feb. 19, average domestic weekly dry natural gas production fell by 13.8 billion cubic feet per day (Bcf/d).