Working Gas in Storage
(Percentage Difference from Previous
5-Year Average)
Sources: History: Natural Gas Week; Projections: Short-Term Energy Outlook, January 2001.
Notes:
- Working gas in storage is estimated to have been below 1,800 billion cubic feet at the end of December, more than 20% below the previous 5-year average. The estimated end-year level is the lowest for the period of time that EIA has records.
- The current outlook for winter demand and supply suggests that storage is likely to remain very low this winter. In the base case, we project that gas storage will fall to about 470 billion cubic feet at the end of the heating season (March 31, 2001). The previous 30-year observed low was 758 billion cubic feet at the end of the winter of 1995-1996.
- If summer gas demand next year is as strong as we currently expect it to be, the low end-winter storage levels will present a strong challenge to the North American gas supply system to maintain flexibility and provide additional gas in preparation for the subsequent winter season.