Total supply was up slightly for the week despite flat dry gas production. According to Bentek estimates, the week’s average total natural gas supply posted a 0.6 percent increase from last week’s level, led by a 7.5 percent increase in imports from Canada, which averaged 6.1 Bcf per day over the period. Imports from Canada stand 12.0 percent above year-ago volumes for the same week. There was a 1.3 percent decrease in supply of liquefied natural gas (LNG) during the week, with sendout averaging 246 million cubic feet (MMcf) per day. Sendout volumes remain 70.4 percent below year-ago levels. Anchoring these net supply gains was another week of essentially flat domestic dry gas production which averaged 63.3 Bcf per day, unchanged from the previous week and 3.4 percent above this time last year.
Working natural gas in storage increased to 2,944 Bcf as of Friday, June 8, 2012, according to EIA’s WNGSR. This represents an implied net injection of 67 Bcf from the previous week. This week’s injection was 21 Bcf below the 5-year (2007-2011) average of 88 Bcf for the same week, and 5 Bcf below the injection of 72 Bcf during the same week last year. Working inventories are currently 666 Bcf greater (29.2%) than the 5-year average level and 708 Bcf higher (31.7%) than last year at this time.
Injections in each of the three storage regions were below the 5-year average injection. The East region injected 43 Bcf (compared with a 5-year average of 56); the West injected 11 Bcf (compared with a 5-year average of 18 Bcf); and the Producing region injected 13 Bcf (compared with an average of 14). In the Producing region, stocks increased 1 Bcf in salt caverns and 10 Bcf in non-salt facilities.
Temperatures during the storage report week were cooler than both the 30-year normal and last year’s temperatures. The average temperature in the lower 48 States was 66.7 degrees, 1.1 degrees below the 30-year normal and 5 degrees below last year’s temperature. The coolest areas relative to normal were New England, where temperatures averaged 57.6 degrees; and the East North Central, where temperatures averaged 60.7 degrees.