The Platts pre-report analyst survey suggests U.S. EIA data will show a 65 to 69 Bcf build to natural gas stocks for the latest reporting week Washington - August 12, 2009 The U.S. Energy Information Administration (EIA) on Thursday is expected to report an addition of between 65 and 69 billion cubic feet (Bcf) to natural gas storage inventories for the week that ended August 7, according to a Platts survey of analysts. A build within those expectations would be larger than both last year's 51-Bcf build and the five-year-average injection of 42 Bcf, according to EIA. As a result, the 580-Bcf surplus over last year and the 493-Bcf surplus over the five-year average will likely expand. Beyond the consensus, the broader range of analyst expectations spanned from 55 Bcf to 71 Bcf. Societe Generale analyst Laurent Key said if storage injections match the five-year average for the balance of the cooling season, total inventories will reach a record 3.9 Bcf by the end of October. Looking ahead to next week’s report, Gelber & Associates analyst Kent Bayazitoglu said the heat wave across much of the country will drive up gas demand and keep the storage injection to just 45 Bcf or so -- below the five-year-average build of 56 Bcf for the same week last year.
The U.S. Energy Information Administration (EIA) on Thursday is expected to report an addition of between 65 and 69 billion cubic feet (Bcf) to natural gas storage inventories for the week that ended August 7, according to a Platts survey of analysts.
A build within those expectations would be larger than both last year's 51-Bcf build and the five-year-average injection of 42 Bcf, according to EIA. As a result, the 580-Bcf surplus over last year and the 493-Bcf surplus over the five-year average will likely expand.
Beyond the consensus, the broader range of analyst expectations spanned from 55 Bcf to 71 Bcf.
Societe Generale analyst Laurent Key said if storage injections match the five-year average for the balance of the cooling season, total inventories will reach a record 3.9 Bcf by the end of October.
Looking ahead to next week’s report, Gelber & Associates analyst Kent Bayazitoglu said the heat wave across much of the country will drive up gas demand and keep the storage injection to just 45 Bcf or so -- below the five-year-average build of 56 Bcf for the same week last year.