The natural gas storage report from the EIA for the week ending January 15th indicated that the amount of natural gas held in underground storage in the US fell by 187 billion cubic feet to 3,009 billion cubic feet by the end of the week, which left our gas supplies just 36 billion cubic feet, or 1.2% higher than the 3,045 billion cubic feet that were in storage on January 15th of last year, but still 198 billion cubic feet, or 7.0% above the five-year average of 2,811 billion cubic feet of natural gas that have been in storage as of the 15th of January in recent years..the 187 billion cubic feet that were drawn out of US natural gas storage this week was 10 billion cubic feet more than the average forecast of a 177 billion cubic foot withdrawal from an S&P Global Platts survey of analysts, and way more than the 97 billion cubic foot withdrawal from natural gas storage seen during the corresponding week of a year earlier, as well as more than the average withdrawal of 167 billion cub
U.S. Oil, Natural Gas Infrastructure Growth Potential Said ‘Significant’ as LNG, Mexico Exports Climb
The potential for oil and natural gas infrastructure development remains “significant” through 2025 as the U.S. economy recovers from Covid-19 and exports increase, according to ICF Resources Inc.
In a report prepared for the Interstate Natural Gas Association of America (INGAA), ICF said one scenario used by researchers to evaluate changes to markets and infrastructure development found that almost 33 Bcf/d of capacity is expected to be placed into service during between 2020 and 2025. The projected development is lower on a per-year basis than it was in 2018, which was “a banner year for pipeline construction,” according to ICF.