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  • bluecheese4u bluecheese4u Nov 15, 2007 3:15 PM Flag

    Natural Gas Weekly Update November 15, 2007

    Part two

    Storage:

    Working gas in storage as of November 9 was 3,536 Bcf, which is 8.4 percent above the 5-year average inventory level for the reporting week, according to EIA�s Weekly Natural Gas Storage Report (see Storage Figure). At 3,536 Bcf, total working gas in storage exceeds the 5-year (2002-2006) historical average. The implied net withdrawal of 9 Bcf for the report week sharply contrasts with both last year�s net injection of 3 Bcf and the 5-year average net injection of 9 Bcf. This week�s report marks the first withdrawal of the 2007-2008 heating season. Higher-than-normal heating demand in key market locations contributed to the net withdrawal, as colder-than-normal temperatures prevailed in certain areas (see Temperature Maps). Temperatures across the Lower 48 States varied significantly, with overall temperatures about 4 percent colder than normal for the week ending November 8, according to the number of heating degree-days as measured by the National Weather Service. Temperatures in New England, the Middle Atlantic, and East North Central Census Divisions were 13, 14, and 12 percent colder than normal for the week, respectively. Temperatures elsewhere also were colder than normal except in the West, particularly in the Mountain and Pacific Census Divisions, which were substantially above normal. Regional temperature differences contributed to the first net withdrawal of the season of 15 Bcf in the East storage region and the net injection of 6 Bcf in the West region. In addition to the implied strength of space heating demand during the report week, an increase in electricity demand also may have contributed to the overall net withdrawal. Electricity demand in the United States increased 1.9 percent compared with the same week last year, according to the Edison Electric Institute.

    Other Market Trends:

    EIA Releases Country Energy Profiles: The Energy Information Administration (EIA) released Country Energy Profiles, a publication that presents energy data for 215 countries, including production, consumption, and carbon dioxide emissions. In addition to illustrating energy data through 2006 by country, region, and commercial group, Country Energy Profiles also presents forecasts for 2007 for selected countries for total oil production and consumption. Included in the newly released publication are also the 158 Country Analysis Briefs previously released by EIA. Highlights of the publication include statistics on natural gas reserves, production, consumption, imports, and exports. For example in North America, which is made up of the United States, Canada, Mexico, Greenland, and Bermuda, natural gas production totaled 26.2 trillion cubic feet (Tcf) in 2005, while consumption reached 27.4 Tcf. Total proved reserves were estimated at 264 Tcf. North America was ranked the second largest natural gas producing region in the world, second only to Eurasia, while its consumption was the largest.



    Natural Gas Transportation Update:

    � Questar Pipeline Company reported a mechanical failure on the Greasewood compressor station unit 1 in Colorado. As a result, deliveries to TransColorado Pipeline were reduced to 25,000 decatherms (Dth) per day from the normal 47,500 Dth per day. The outage was in effect between November 8 and 13.

    � In a separate notice, Questar informed its interruptible storage service (ISS) customers that it was declaring an operational flow order (OFO) for its Clay Basin storage facility in Utah. All ISS customers with a negative inventory balance as of October 31 are required to transfer gas in place to bring the inventory to zero by the end of the day, November 30.

    � Southern California Gas Company issued a high-linepack OFO for November 10 through 12. The company assessed buy-back charges to

 
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