Inventories at 124 Bcf, or nearly 14% below average Record power burns fuel salt dome withdraws in May Henry Hub winter, summer gas prices trade at parity Already depleted gas storage inventories in the US South Central region face outsized market risks this summer with strong power burns, narrow summer-to-winter forward price spreads and record LNG demand promising to slow injections.
For the week ended May 20, South Central storage is now estimated at 797 Bcf – nearly 14%, or about 124 Bcf, below the prior five-year average, data from the US Energy Information Administration showed. In its latest report published May 26, the EIA estimated a net injection of just 16 Bcf in the South Central during the prior week with salt caverns across the region showing zero net change in storage levels for the […]