Total supply for the report week decreased, driven by declines in domestic production and imports from Canada. Bentek estimates that average daily natural gas supply for this report week decreased by 0.7 Bcf per day (0.9 percent) over the previous week’s daily average. This resulted from a 0.5 percent decrease in dry production and a 7.8 percent decrease in imports from Canada.
Working natural gas in storage increased to 3,929 Bcf as of Friday, November 2, according to EIA’s WNGSR, the highest recorded volume since EIA began keeping records. This represents an implied net injection of 21 Bcf from the previous week. This week’s injection was 15 Bcf below the 5-year (2007-2011) average injection of 36 Bcf, and 27 Bcf below last year’s injection of 48 Bcf. Inventories are currently 109 Bcf (2.9 percent) greater than last year at this time and 244 Bcf (6.6 percent) greater than the 5-year average.
All three storage regions posted increases this week, with the Producing and West Regions posting record-high natural gas storage volumes. Inventories in the East, West, and Producing regions increased by 5 Bcf (the 5-year average net injection is 16 Bcf), 8 Bcf (the 5-year average net injection is 6 Bcf), and 8 Bcf (the 5-year average net injection is 14 Bcf), respectively. In the Producing region, working natural gas inventories increased 7 Bcf (2.3 percent) in salt cavern facilities and decreased 1 Bcf (0.1 percent) in nonsalt cavern facilities.
The average temperature during the storage report week was 1.0 degree cooler than the 30-year normal temperature and 1.3 degrees warmer than the same period last year. Temperatures in the lower 48 States averaged 51.0 degrees, compared to 49.7 degrees last year and the 30-year normal of 52.0 degrees. While overall temperatures were a degree cooler than normal, temperatures varied somewhat across Census divisions. In the Northeast, the New England Census division was particularly warm, averaging 7.6 degrees warmer than the 30-year normal. In the South, the West South Central Census division was particularly cool, averaging 5.6 degrees cooler than the 30-year normal. Heating degree-days nationwide were 4.1 percent above normal and 9.0 percent below last year.