Platts pre-report analyst survey suggests US EIA data will show an 32- to 36-Bcf addition in natural gas stocks for the latest reporting week

Washington - August 4, 2010

The U.S. Energy Information Administration (EIA) is expected Thursday to report a net injection of 32 to 36 billion cubic feet (Bcf) to natural gas storage for the week that ended July 30, according to a Platts survey of analysts.

An injection within those expectations would be much smaller than the 67-Bcf build in the same week of 2009 and the five-year-average of 47 Bcf, according to EIA. As a result, the 94-Bcf deficit to last year is likely to expand, while the 239-Bcf surplus over the five-year average is expected to narrow.

Beyond the consensus, injection estimates for the week ending July 30 ranged from a low of 29 Bcf to a high of 42 Bcf.

Kent Bayazitoglu, director of market analytics at Gelber & Associates, said while last week's weather was slightly cooler than the previous week’s - which resulted in the lowest summertime storage build since 2007 - it was still hot enough to boost gas demand for electricity generation, thereby paving the way for another small injection.

"In addition, precautionary production shut-ins for Tropical Storm Bonnie will reduce the injection figure by another 4 to 5 Bcf," he predicted.

For more information on natural gas, visit the Platts website www.platts.com.

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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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