Platts pre-report analyst survey suggests US EIA data will show an 28- to 32-Bcf addition in natural gas stocks for the latest reporting week

Washington - August 18, 2010

The U.S. Energy Information Administration (EIA) is expected Thursday to report a net injection of 28 to 32 billion cubic feet (Bcf) to natural gas storage for the week that ended August 13, according to a Platts survey of analysts.

An injection within those expectations would be well below both the 54-Bcf build recorded in the corresponding week of 2009 and the five-year-average of 50 Bcf, according to EIA. As a result, the 158-Bcf deficit to last year is likely to expand, while the 219-Bcf surplus over the five-year average is expected to shrink.

Beyond the consensus, injection estimates for the week ending August 13 ranged from a low of 21 Bcf to a high of 40 Bcf.

"The heat that has gripped the country this summer held steady for the week ending August 13, and should result in another low net injection," said Ben Caplan, an analyst at Gelber & Associates. "The extreme temperatures throughout the South look to yield a fourth consecutive withdrawal in the producing region.”

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This analyst survey is conducted by Platts’ editorial team in Washington, D.C., and is published every Wednesday morning, one day ahead of the 10:30 a.m. (ET) Thursday release of the weekly natural gas storage report of the U.S. Energy Information Administration. Platts has been conducting this survey since January 2007. The survey includes 15 to 25 analysts, some on a rotational basis.

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