US natgas inventories reach record levels

01 November 2007 17:04  [Source: ICIS news]

HOUSTON (ICIS news)--US natural gas inventories reached a record 3,509bn cubic feet (bcf) for the week ended 26 October, the Energy Information Administration (EIA) said on Thursday.

The EIA said stocks were 1.4% higher than the previous record set at 3,461 bcf during the week ended 20 October 2006 and 8.4% higher than the five-year average stock level for the same week.

The US enters the 2007-2008 winter heating season with abundant supplies and production unaffected by the kind of tropical storms that sharply curtailed oil and natural gas operations in the Gulf of Mexico in September 2005.

Natural gas is a key feedstock for the US petrochemicals industry.  

Stocks in the US East Consuming Region exceeded 2,000 bcf for the first time at 2,004 bcf and inventories in the Producing Region, encompassing the states of Kansas, Oklahoma, Texas, New Mexico, Arkansas, Louisiana, Mississippi and Alabama, also reached record levels at 1,046 bcf.

The East Consuming Region includes states from Maine to Florida and extends west through Wisconsin, Iowa, Nebraska, Missouri, Tennessee and Georgia.

By: Brian McIntyre
+1 713 525 2653

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