US Natural Gas Storage Injections Surpass Seasonal Norms

According to Natural Gas Intelligence (NGI), storage injections in the US have continued to outpace seasonal norms as production recovers. In its latest Weekly Natural Gas Storage Report, NGI projects that for the week ended July 31, there will be an injection of 30 Bcf, up 2 Bcf from the previous week and higher than both last year's 13 Bcf increase and the average 23 Bcf build over the past five years.

This would cut the year/year deficit to 15 Bcf but push the surplus to the previous five-year average of 192 Bcf. Data from NGI's Entropic Analytics shows that deliveries to Lower 48 power generators rose by an average of 51.1 Bcf/d, up 1.4 Bcf from the week prior.

However, this increase was offset by a rise in domestic production, which ticked up 1.5 Bcf/d week/week to 111.8 Bcf/d. Total net pipeline imports into the US added an additional 0.3 Bcf/d of supply, while deliveries to Lower 48 LNG liquefaction facilities rose by 0.3 Bcf/d to 17.9 Bcf/d.