EIA Natural Gas Storage Report 12-22-22
Working gas in storage was 3,325 Bcf as of Friday, December 16, 2022, according to EIA estimates. This represents a net decrease of 87 Bcf from the previous week.
Analyst expected today’s EIA weekly storage report to show a decrease at about 94 Bcf.
Stocks were 45 Bcf less than last year at this time and 22 Bcf above the five-year average of 3,303 Bcf. At 3,325 Bcf, total working gas is within the five-year historical range.
The Arctic air mass is making its way across the lower 48 and has already moved out of the Rockies and into the Midwest today. It will arrive on the East Coast tomorrow. The West will be warming up by Christmas and that warmth will come East before another cold front arrives right around New Year.
Freeport LNG has seen some feed gas flows to the terminal on December 21st which would imply it might be on schedule for an end-of-December target for resuming production at the facility but U.S. energy regulators’ approval to restart remains pending. Two tankers have been waiting in the Gulf of Mexico to load at Freeport while additional unladen tankers have set Freeport as their destination.
Natural Gas Futures
Read more: EIA
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