Opinion

S&P Global Platts Survey of Analysts Suggests U.S. EIA Data to Show 66-Bcf Build to Natural Gas Stocks


The U.S. Energy Information Administration (EIA) on Thursday is expected to report a 66-billion- cubic-feet (Bcf) injection for the week that ended October 20, according to a survey of analysts by S&P Global Platts, the leading independent provider of information and benchmark prices for the commodities and energy markets.

Responses to the survey were tight and ranged for a build of 61 Bcf to 69 Bcf. The EIA plans to release its weekly storage report at 10:30 am EDT Thursday.

A 66 Bcf injection would be less than the 74 Bcf injection reported at this time in 2016 as well as the five-year average injection of 75 Bcf.

An injection within analysts' expectations of 66 Bcf would expand stocks to 3.712 trillion cubic feet (Tcf). It would increase the deficit to the five-year average to 44 Bcf and also grow the deficit versus the corresponding week in 2016 to 187 Bcf. It would also measure more than the injection reported the week prior.

For the week ended October 13 the EIA reported a 51 Bcf build that elevated inventories to 3.646 Tcf, which was 4.7% less than the year-ago inventory of 3.825 Tcf, and 1% less than the five-year average of 3.681 Tcf.

“Week over week, the South Central region is expected to have accounted for the majority of the change in storage activity, having injected an estimated 23 Bcf compared to an EIA reported injection of 1 Bcf the week prior,” said Mitch DeRubis, a quantitative modeling analyst with S&P Global Platts. “Power demand in the Southeast region was the largest mover among all fundamental forecasts this week, averaging an estimated 2.1 Bcf/d back from the prior week's levels at 8.1 Bcf/d. Overall supply and demand implied storage estimates for the region suggest length of nearly 3.8 Bcf/d compared to the previous week as supply in the region also increased substantially compared to the previous week, mostly due to a rebound in offshore production.”

The weekly analyst survey is conducted by S&P Global Platts' editorial team, and is published every Wednesday, one day ahead of the 10:30 a.m. (ET) Thursday release of the weekly natural gas storage report of the U.S. Energy Information Administration. Platts has been conducting this survey since January 2007. The survey includes 15 to 25 analysts, some on a rotational basis. 

**In its weekly natural gas report, the EIA divides the U.S. into five storage regions: East, Midwest, South Central, Mountain and Pacific. The full listing of the states that comprise each can be found here.



New service from OilVoice
Trip Shepherd is for companies who need to track their staff in areas of risk.
It's free to use, so we invite you to try it.

Visit source site

ir.eia.gov/ngs/notes.html

S&P Global PlattsEnergy Information Administration EIAEIAUnited Statesnatural gasStocks

More items from oilvoice


Cyber Security Experts Unite to Protect Europe’s Critical Industries

CS4CA Summit Returns to London this October Staying abreast of fast-paced industry developments is crucial for cyber security professionals. And while one can learn a lot from publications and social media, it's hard to beat the value of insights gained first-hand from peers. This is why 150+ IT ...

OilVoice Press - OilVoice


Posted 2 months agoPress > cybereurope

Africa E&P Summit

The organisers of the Africa E&P Summit are bringing together Africa's leading exploration companies and governments, just one of the many reasons why you should be attending frontier's event that they are organising and hosting in London at the IET: Savoy Place, 22-23 May. Over 200 key senior exec ...

OilVoice Press - OilVoice


Posted 7 months agoPress > Africasummitoil summit +2

Equinor Deepens in Offshore Wind in Poland

Equinor has exercised an option to acquire a 50 % interest in the offshore wind development project Bałtyk I in Poland from Polenergia. This transaction is a follow-up of the agreement between the two companies which came into force in May 2018 , by which Equinor acquired a 50 % inter ...

OilVoice Press - OilVoice


Posted 11 months agoPress > EquinorEquinor EnergyPoland +2

Nigeria has highest capex on crude and natural gas projects in sub-Saharan Africa Over Next Seven Years, says GlobalData

Nigeria accounts for more than 34% of the proposed capital expenditure (capex) on planned and announced crude and natural gas projects in the sub-Saharan Africa over the period 2018–2025, according to GlobalData , a leading data and analytics company. The company's report: ‘H2 2018 Production ...

OilVoice Press - OilVoice


Posted 11 months agoOpinion > GlobalDataNigeriaCrude +5

CNOOC Signs Strategic Cooperation Agreements with 9 International Oil Companies

HONG KONG, Dec. 18, 2018 /PRNewswire/ -- CNOOC Limited (the "Company", SEHK: 00883, NYSE: CEO, TSX: CNU) announced today that its parent company, China National Offshore Oil Corporation (CNOOC), has signed Strategic Cooperation Agreements with 9 international oil companies including: Chevron, Conoco ...

OilVoice Press - OilVoice


Posted 11 months agoPress > CNOOCChina National Offshore Oil CorporationChevron +11
All posts from oilvoice