Power burn in the Southeast decreased by 1.5 Bcf/d (23.0%), to an average of 5.0 Bcf/d, versus last week's average of 6.5 Bcf/d. Power burn in the Southeast peaked on February 12, reaching 7.8 Bcf/d, and declined through yesterday. The Northeast followed a similar trend.
Supply declines due to drop in imports. Overall natural gas supply fell by 0.3 Bcf/d below week-ago levels, as a 1.0 Bcf/d drop in natural gas imported from Canada and a 0.1 Bcf/d drop in liquefied natural gas (LNG) sendout offset a 0.9 Bcf/d rise in dry production.
Natural gas entering the United States via pipeline from Canada declined from a 6.5 Bcf/d average last week to 5.4 Bcf/d this week, the result of reduced flow of Canadian gas to the Midwest. Prices and consumption in the Midwest decreased, following last week's spike in demand. At the same time and for similar reasons, LNG sendout from the Elba Island terminal in Georgia, the Cove Point terminal in Maryland, and the Everett terminal in Massachusetts fell. LNG remains a small portion of U.S. natural gas supply.
While imports dropped, dry natural gas production rose by 0.9 Bcf/d (1.4%) to 65.7 Bcf/d, rebounding from last week's decrease. This is a 1.6 Bcf/d (2.4%) increase above year-ago levels. Cold weather reduced production last week, according to reports.
Withdrawals exceed 230 Bcf for the sixth time this winter. Cooler-than-normal weather drove the fourth straight week of inventory declines greater than or equal to 230 Bcf. It was the sixth weekly decline of 230-plus Bcf this winter. Before this winter, weekly declines greater than 230 Bcf occurred only 12 times since EIA's weekly storage data series began in 1994. The net withdrawal reported for the week ending February 14 was 250 Bcf, 117 Bcf larger than the 5-year average of 133 Bcf and 119 Bcf larger than last year's net withdrawal of 131 Bcf. Working gas inventories totaled 1,443, or 975 Bcf (40.3%) less than last year at this time, 741 Bcf (33.9%) below the 5-year (2009-13) average, and 433 Bcf (23.1%) below the 5-year minimum.
Data revision changes last week's inventory levels. A revision caused by resubmitted data resulted in raising the estimate of working gas stocks in the Producing Nonsalt region by 7 Bcf for the week ending February 7. The reported revision caused the stocks for February 7 to change from 1,686 Bcf to 1,693 Bcf. As a result, the implied net change between the weeks ending January 31 and February 7 changed from -237 Bcf to -230 Bcf. There was a similar revision, also in the Producing region, for the week ending January 24.