Platts pre-report survey of analysts suggests US EIA data will show a drawdown from natural gas stocks of 123 to 127 Bcf

Washington - February 1, 2012

The US Energy Information Administration (EIA) on Thursday is expected to report a net withdrawal from natural gas storage between 123 billion cubic feet (Bcf) and 127 Bcf for the week ending January 24, according to a Platts survey of analysts.

A draw within those expectations would compare with a 187-Bcf withdrawal during the corresponding week of 2011 and the five-year-average of 186 Bcf. As a result, the 531-Bcf surplus to last year and the 547-Bcf surplus over the five-year average are likely to expand.

Beyond the consensus, the wider range of analyst estimates spanned from withdrawals of 111 Bcf to 136 Bcf.

Tim Evans, an analyst with Citi Futures Perspective, said the calendar "is now working to the advantage of the bears, as seasonally rising temperatures will mean declining storage withdrawals going forward, making it progressively less likely that we'll see a significant reduction in the storage surplus by the end of the winter."

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