US Gas Storage Reaches 3,644 Bcf, With Salt Caverns About 44 Bcf Below Their Five-Year Average

Working gas in US storage stood at 3,644 Bcf in the week ending 16 October, according to the EIA's weekly report released on 22 October. The net injection of 77 Bcf was slightly below analysts' expectations of 79 to 80 Bcf. Stocks were 152 Bcf (4.0%) lower than a year earlier and 35 Bcf above the five-year average of 3,609 Bcf.

The South Central region held 1,125 Bcf, 3.4% below its five-year average. Within it, salt caverns held 251 Bcf, which the EIA puts 14.9% below the five-year average and 21.1% below last year. Converting those percentages gives a five-year average of about 295 Bcf and a year-earlier level of about 318 Bcf, so salt is roughly 44 Bcf short of normal. By TEI's calculation, stocks outside salt facilities are about 79 Bcf above their combined five-year average.

Salt caverns can be cycled several times a season and are the storage most used to meet short cold spells. The next weekly report is due on 29 October.