Friday, November 13, 2009

Natural Gas Storage At New Records: Overflow

Natural gas inventories were released today showing yet another injection of 25Bcf. The total in storage is now an incredible 3.81Tcf. The known capacity maximum is 3.84Tcf, at least in theory. However, this is academic by now. It is quite surprising that these numbers keep being reported higher and higher, some would say suspect.

Storage is 10% above last year at this time and 12% above the 5-year average. The following chart shows the storage in 2008 and 2009. The curve shows we are at the inflection point and no more injections should occur.

There are no hurricanes in the forecast:

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