U.S. natural gas storage is on track to end the April-October summer injection season at a four-year high of 3.899 trillion cubic feet (tcf) on Oct. 31, according to analysts’ estimates.
That compares with 3.809 tcf at the end of the summer injection season in 2023, 3.929 tcf in 2020 and a five-year (2019-2023) average of 3.747 tcf.
Looking ahead to the end of the November 2024-March 2025 winter withdrawal season, analysts project storage will fall to 1.754 tcf on March 31, the lowest in three years.
That compares with an eight-year high of 2.289 tcf of gas in storage at the end of the winter withdrawal season in 2024, 1.401 tcf at the end of March 2022 and a five-year (2020-2024) average of 1.874 tcf.
The 384 active storage fields in the Lower 48 states had a design capacity of 4.666 tcf in November 2023, according to the latest federal data available.
The following lists analysts’ storage estimates in trillion cubic feet with the most recent estimates on top:
Company Oct 31, Oct 31, Mar 31, Mar 31, Date
2024 2024 2025 2025
tcf tcf tcf tcf
Current Previous Current Previous Bank of America 3.950 3.950 Sep 23 EBW Analytics 3.834 3.878 Sep 23 LSEG 3.839 3.760 1.030 0.661 Sep 23 Piper Sandler 3.730 3.780 1.860 Sep 11 U.S. EIA 3.921 3.954 1.942 1.963 Sep 10 RBC Capital 3.975 Sep 5 Mizuho 2.291 Sep 1 Tudor Pickering Holt & Co 3.840 3.760 Aug 16 Energy Aspects 3.930 May 17 Citibank 3.872 Apr 10 Morgan Stanley 3.900 Jan 5 UBS 4.100 Jan 3
(Reporting by Scott DiSavino)