OGJ Newsletter

Market MovementNatural gas storage surplus continues to buildThe year-over-year surplus of US natural gas in storage continues to climb (see chart).For the week ended Aug. 17, AGA reported injections of 86 bcf, vs. 50 bcf the week before, said Salomon Smith Barney. The figure compares with a 55 bcf injection a year ago and a 50 bcf injection in 1999. Gas storage levels now stand at 2.419 tcf, about 327 bcf higher than year-ago levels.Coinciding with the release of these most recent figures, AGA revised upward to 50 bcf its initially reported 3 bcf injection for the week ending Aug. 10. The revision was attributable to the eastern consuming region, which was adjusted from a 12 bcf withdraw...

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