Platts Survey of Analysts Suggests U.S. EIA Data Will Show an Injection to Natural Gas Stocks of 66 to 70 Billion Cubic Feet

Washington - October 28, 2015

The U.S. Energy Information Administration (EIA) on Thursday is expected to report a natural gas storage injection between 66 and 70 billion cubic feet (Bcf) for the week ended October 23, according to a Platts survey of analysts.

An injection within expectations would be less than the 88-Bcf injection reported at this time last year and the 73-Bcf five-year average, according to EIA data.

The wider range of analysts' expectations for this Thursday's report spanned an injection of 51 Bcf to 85 Bcf.

Last week, the EIA reported a 81-Bcf injection that increased inventories to 3.814 Tcf, which was 434 Bcf, or 12.8%, more than the year-ago inventory of 3.38 trillion cubic feet (Tcf), and 163 Bcf, or 4.5%, more than the five-year average of 3.651 Tcf.

Residential/commercial heating demand drove increased natural gas demand, compared with the previous week, said Bentek Energy*, an analytics and forecasting unit of Platts. A doubling of heating degree days in the Northeast and strong gains in the Midcontinent contributed to the residential/commercial heating demand increase.

"Storage activity fell in the East Region** amid increased heating demand, though a large portion of the demand fell on the weekend, which may have led to an overestimation of res/comm demand and a corresponding underestimation of implied injection activity," Bentek said. "West injection activity picked up compared to low levels the previous week, coinciding with a decrease in power burn, while Producing activity remained fairly flat to the previous week."

The weekly analyst survey is conducted by Platts' editorial team, and is published every Wednesday morning, 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.

For more information on natural gas, visit the Platts website

*Bentek Energy is an analytics and forecasting unit of Platts, acquired in 2011.

**In its weekly natural gas report, the EIA divides the U.S. into three storage regions: East, West and Producing. The full listing of the states that comprise each can be found here.

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