EIA NG STORAGE REPORT
| July 07, 2016
July 7, 2016
The EIA reported a +39 bcf injection for the week ending June 30, coming in line with our own number and below the Bloomberg median at +42 bcf. At a regional level, we underestimated injections in the Midwest while allocating a smaller draw to South Central. There will be no commentary this week. Please note our extended U.S. and Canada tables covering the injection season are included in the attachment.
EIA NG STORAGE REPORT
| June 30, 2016
June 30, 2016
The EIA reported a +42 bcf injection for the week ending June 23, coming in line with our own number and below the Bloomberg median at +45 bcf. Unlike the accounting-driven pull in the Pacific, South Central posted a real withdrawal as a region, not just in salts. On May 25, 2016, SoCal posted a critical notice titled “Aliso Canyon Update”, quantifying the gas volume lost during the SS-25 leak at 4.62 bcf. That note did not set a date on when the system-wide inventory would be adjusted to re.....
EIA NG STORAGE REPORT
| June 23, 2016
June 23, 2016
The EIA reported a +62 bcf injection for the week ending June 16, coming in line with our own number and the Bloomberg median at +60 bcf. Regionally, salt domes withdrew less than expected, but the non-salt build was smaller as well leading to a lower than expected overall injection for South Central. That would explain last week’s cash strength and implies another small injection or possible withdrawal for the current reference week given the strength in cash prices. Despite an increase in.....
EIA NG STORAGE REPORT
| June 16, 2016
June 16, 2016
The EIA reported a +69 bcf injection for the week ending June 9, coming in above our own number at +60 bcf and the Bloomberg median at +65 bcf. We chose not to make any adjustments following last week’s bullish surprise from the EIA even though the market seemed to have already been preparing itself for a bearish surprise from the EIA based on where the ICE storage swap was trading all week and the price reaction today. All of the difference between our scrape number and EIA’s estimate w.....
EIA NG STORAGE REPORT
| June 09, 2016
June 9, 2016
The EIA reported a +65 bcf injection for the week ending June 2, coming in below our own number at +73 bcf and the Bloomberg median at +76 bcf. Our model was spot on in the Midwest, but overestimated injections by all other regions, led by an estimated +6 bcf in the Pacific compared to +3 bcf reported by the EIA . We missed the East and South Central by 2 bcf, and the Mountain by 1 bcf. While these misses can be technically attributed to either stronger demand or weaker supply, we suspect .....
EIA NG STORAGE REPORT
| June 02, 2016
June 2, 2016
The EIA reported a +82 bcf injection for the week ending May 26, coming in line with our own number at +81 bcf and the Bloomberg median at +83 bcf. All regions experienced stronger injections compared to the previous week, except for salt domes that actually withdrew -2 bcf. With salt dome operators either unwilling or unable to inject over the reference week, Henry Hub cash prices saw increased pressure with the cash-prompt spread widening significantly ahead of the Memorial Day holiday weeke.....
EIA NG STORAGE REPORT
| May 26, 2016
May 26, 2016
The EIA reported a +71 bcf injection for the week ending May 19, coming in above our own number at +64 bcf and the Bloomberg median at +67 bcf. Despite different weather patterns and the fact that our scrape sample based on pipeline flows was 8 bcf lower week-on-week, the injection and its regional breakdown was very similar to the +73 bcf build reported for the previous week. With such a difference in the distribution of the injections reported by the storage facilities that we can track, the.....
EIA NG STORAGE REPORT
| May 19, 2016
May 19, 2016
The EIA reported a +73 bcf injection for the week ending May 12, coming in below our own number at +79 bcf and the Bloomberg median at +79 bcf. Regionally, the small net injection reported by salt domes explains most of the miss compared to our expectations. As every other region reported a higher injection week-on-week, salt domes injected only +3 bcf to get within 11 bcf of the high from last November. Based on pipeline data we expected a higher injection into salt domes for the week.....
EIA NG STORAGE REPORT
| May 13, 2016
May 12, 2016
The EIA reported a +56 bcf injection for the week ending May 5, coming in below our own number at +60 bcf and in line with the Bloomberg median at +57 bcf. Regionally the South Central reported a larger build than expected the expense of Midwest and others. There will be no commentary this week. Please note our extended U.S. and Canada tables covering the injection season are included in the attachment.
EIA NG STORAGE REPORT
| May 05, 2016
May 5, 2016
The EIA reported a +68 bcf injection for the week ending April 28, coming in just below our own number at +70 bcf and in line with the Bloomberg median at +67 bcf. Regionally the Midwest reported a smaller build than expected, but salt dome facilities injected another 10 bcf to get to within 20 bcf of their high from last November. However, the scrape sample for the week ending May 5 is calling for a low single digits salt dome injection as of today. With regional weather moving towards normal.....