Slide 12 of 15
Notes:
The level of gas in storage at the end of the last heating season (March 31, 2000) was 1,150 billion cubic feet (Bcf), just above the 1995-1999 average of 1,139 Bcf.
However, according to American Gas Association data, injection rates since April 1 have been below average, resulting in a 10-percent shortfall compared to the 5-year average for total stocks as of September 1.
Net injections in August have been 10 percent below average.
If net injections continue at 10 percent below historically average rates through the remainder of the refill season, gas inventories would be 2,750 Bcf on November 1, which is 8 percent below the 5-year average of about 3,000 Bcf. We are currently projecting that working gas will be between 2,800 and 2,900 Bcf at the end of October, entering the heating season somewhat below average. Given the recent low of 758 Bcf in storage at the end of the heating season in March 1996, this suggests an operational ability to withdraw 2,000 Bcf or more during the next heating season, which exceeds the 1,876 Bcf withdrawn last winter.
