Wednesday, November 06, 2013
A consensus of analysts expects the US Energy Information Administration on Thursday will estimate a natural gas storage injection of between 34-38 Bcf for the reporting week that ended Friday.
An addition to stocks within those expectations would be larger than the 27-Bcf build in the same week in 2012 and on par with the five-year-average addition of 36 Bcf, according to EIA data.
As a result, the 120-Bcf deficit to last year should shrink while the 58-Bcf surplus to the five-year average should remain the same.
The wider range of analysts' expectations spanned from an injection of 25 Bcf to one of 44 Bcf.
Bentek Energy's supply/demand model predicts an injection of 35 Bcf for the week that ended Friday, while its pipeline flow model anticipates an addition to stocks of 39 Bcf.
For the week that ended October 25, EIA reported a build of 38 Bcf, lifting overall inventories to 3.779 Tcf.
Bentek, a unit of Platts, said that with nationwide production continuing to make new highs, injections could continue through much of November.
For the full article, please go to www.platts.com.