Total supply for the week was essentially unchanged, registering an overall decrease of 0.4 percent, reflecting relatively flat dry gas production. According to Bentek estimates, domestic weekly dry gas production was only 0.1 percent higher than the previous week (although 2.4 percent above the same time last year). Imports from Canada dropped by 4.4 percent, as declines in shipments to the Northeast and Midwest offset modest increases in the West. For the week, imports from Canada stand 5.6 percent above year-ago volumes. Liquefied natural gas (LNG) sendout dropped sharply, down 26.6 percent from last week; sendout volumes remain well below (36.0 percent) year-ago levels.
Working natural gas in storage increased to 3,241 Bcf as of Friday, August 3, according to EIA’s WNGSR. This represents an implied net injection of 24 Bcf from the previous week. This week’s injection was 21 Bcf below the 5-year (2007-2011) average injection of 45 Bcf, and 7 Bcf below last year’s injection of 31 Bcf. Since April 27, injections of working natural gas into underground storage have fallen short of both year-ago levels and the 5-year average, although stocks remain well above historical levels. Inventories are currently 465 Bcf (16.8 percent) greater than last year at this time and 386 Bcf (13.5 percent) greater than the 5-year average.
Only one of the three storage regions posted an increase this week. Inventories in the East region increased by 30 Bcf (the 5-year average net injection is 44 Bcf). The West and Producing regions posted decreases of 1 Bcf (the 5-year average net injection is 5 Bcf) and 5 Bcf (the 5-year average net withdrawal is 4 Bcf), respectively. In the Producing Region, working natural gas inventories decreased 8 Bcf (3.4 percent) in salt cavern facilities and increased 1 Bcf (0.1 percent) in nonsalt cavern facilities.
Temperatures during the storage report week were 2.0 degrees warmer than the 30-year normal temperature and 2.0 degrees cooler than the same period last year. Temperatures in the Lower 48 States averaged 77.4 degrees, compared to 79.4 last year and the 30-year normal of 75.4. During the week all regions were warmer than normal, particularly the West South Central and West North Central divisions, which, respectively, averaged 4.1 and 3.9 degrees warmer than the 30-year normal.