The Platts pre-report analyst survey suggests US EIA data will show a 128- to 132-Bcf withdrawal in natural gas stocks
Washington - March 3, 2010
The U.S. Energy Information Administration (EIA) is expected Thursday to report a net withdrawal of 128 to 132 billion cubic feet (Bcf) from natural gas storage for the week that ended February 26, according to a Platts survey of analysts.
A withdrawal within expectations would be larger than both the 101-Bcf drawdown last year and the five-year-average pull of 124 Bcf, according to EIA. As a result, the year-on-year deficit of 56 Bcf will likely grow and the 13-Bcf surplus over the five-year average will likely narrow.
Beyond the consensus, the wider range of analyst estimates spanned from withdrawals of 117 Bcf to 155 Bcf.
Martin King, an analyst at FirstEnergy Capital who predicted a draw of 155 Bcf, said although the number of degree-days last week was nearly identical to the prior week, more of the cold weather was concentrated in the central and south Atlantic regions rather than the more populated, heating-intensive Northeast.
"Nevertheless, the withdrawal should score well ahead of last year's pace and the five-year average,” he said.
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This analyst survey is conducted by Platts’ editorial team in Washington DC and is published every Wednesday morning, one day ahead of the 10:30 am (EST) Thursday release of the weekly natural gas storage report of the US Energy Information Administration. Platts has been conducting this survey since January 2007. IMPORTANT NOTE TO EDITORS: The survey results attached above do not contain commentary from a Platts staff member. The survey is conducted and prepared by the Platts market news editors, but the views are those of non-Platts market analysts. The survey includes 15 to 25 analysts, some on a rotational basis. This differs from the weekly pre-report analyst survey of EIA/API US oil stocks data conducted each week by Platts Senior Oil Analyst Linda Rafield, which does include the views of Platts’ oil analyst Linda Rafield.
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