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Summer Heat Dents Storage Surplus in South Central USA: Platts

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Stronger industrial and gas-fired natural gas demand across the South-Central US is eating away at the spring gas storage surplus, Platts said.

  • Moreover, approaching hot weather could also turn market sentiment bullish by late summer.
  • In May to date, gas demand in the US Southeast and Texas has averaged 29.7 bcf/d, a record seasonal high and up 750 mmcf/d on the year.
  • Industrial end-users have accounted for 60% of the incremental demand.
  • The region’s surplus has steadily declined over the last eight weeks, with stocks now 207 Bcf above the five-year average, compared with 290 Bcf above in March.
  • Temperatures across the Southeast and Texas are forecast to be above average during the summer, elevating cooling demand and limiting storage injections.
  • Platts projects a net injection of just 16 Bcf into South Central storage for the week ending May 17, compared to the five-year average of 24 Bcf.

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Stronger industrial and gas-fired natural gas demand across the South-Central US is eating away at the spring gas storage surplus, Platts said.

  • Moreover, approaching hot weather could also turn market sentiment bullish by late summer.
  • In May to date, gas demand in the US Southeast and Texas has averaged 29.7 bcf/d, a record seasonal high and up 750 mmcf/d on the year.
  • Industrial end-users have accounted for 60% of the incremental demand.
  • The region’s surplus has steadily declined over the last eight weeks, with stocks now 207 Bcf above the five-year average, compared with 290 Bcf above in March.
  • Temperatures across the Southeast and Texas are forecast to be above average during the summer, elevating cooling demand and limiting storage injections.
  • Platts projects a net injection of just 16 Bcf into South Central storage for the week ending May 17, compared to the five-year average of 24 Bcf.

Keep reading...Show less