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US ends winter with lower natural gas storage levels

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Tanks and Terminals,


Increased heating demand for natural gas this past winter resulted in more withdrawals from US natural gas storage than normal, reports the US Energy Information Administration (EIA).

By the end of March, the least amount of natural gas was held in US underground storage in the Lower 48 states since 2019.

In January, temperatures across the country were colder than normal, which increased residential, commercial, and electric power demand for natural gas.

More heating demand and record-high LNG exports resulted in above-average withdrawals from working natural gas storage despite increased natural gas production.

Working natural gas in underground storage facilities in the Lower 48 states totalled 1387 billion ft3 as of 31 March 2022. Inventories were 17% lower than the previous five-year average (2017 – 2021) for that time of year, according to the EIA’s ‘Weekly Natural Gas Storage Report’.

Temperatures were relatively mild across the US from October through mid-January. Net withdrawals from underground storage facilities in the Lower 48 states during January totalled 991 billion ft3 — the most natural gas withdrawn from storage during any January since 2012. In January 2022, population-weighted heating degree days (a measure of how cold weather is) were 9% higher than the previous 10-year average, which led to higher-than-normal withdrawals in January.

Read the article online at: https://www.tanksterminals.com/storage-tanks/19042022/us-ends-winter-with-lower-natural-gas-storage-levels/

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