BAKU, Azerbaijan, February 12. US natural gas inventories are expected to decrease to 1,910 billion cubic feet (Bcf) by the conclusion of this winter heating season (November–March), Trend reports.
According to the US Energy Information Administration (EIA), despite this decrease, the inventory levels are projected to be 15 percent higher than the previous five-year average.
The EIA Weekly Natural Gas Storage Report reveals that the third-largest withdrawal from US storage occurred during the week ending January 19 due to cold weather amplifying natural gas demand nationwide, coinciding with a decline in natural gas production.
While this substantial weekly withdrawal brought the natural gas storage surplus closer to the five-year average, the agency's estimates indicate that inventories remained 7 percent above the five-year average as of the end of January.
The EIA forecast anticipates mild weather conditions in February and March, leading to a reduction in natural gas consumption and an increase in natural gas production. Consequently, the agency projects that storage inventories will persist above the five-year average after the winter heating season.
