Natural Gas Inventory Exceeds Five-Year Average for First Time Since Nov. 2013
EIA Today in Energy: Working natural gas in storage has surpassed five-year average levels for the first time in more than a year. At 2,157 billion cubic feet (Bcf) as of February 13, stocks are 58 Bcf greater than the five-year average.
Recent extremely cold weather may result in high stock withdrawals for the week ending February 20, which could again push stocks below their five-year average. However, natural gas production in February and March that is forecast to average 5 Bcf/day above the year-ago level is likely to contribute to healthy inventories and moderate prices as the nation moves from winter into spring.
Read more: http://1.usa.gov/1vlcUvd
More industry news:
- SMU’s Weinstein: U.S. Energy Abundance Achieved Despite Feds: http://bit.ly/1zsO4pG
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- Marcellus Shale Breathes New Life into Old Pennsylvania Coal Plant: http://bit.ly/1zsRw3w
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- Why the Arctic is the Gateway to U.S. Energy Security: http://bit.ly/17jMcba
By Mary Leschper
Originally posted February 20, 2014
Energy Tomorrow is brought to you by the American Petroleum Institute (API), which is the only national trade association that represents all aspects of America’s oil and natural gas industry. Our more than 500 corporate members, from the largest major oil company to the smallest of independents, come from all segments of the industry. They are producers, refiners, suppliers, pipeline operators and marine transporters, as well as service and supply companies that support all segments of the industry.