Natural Gas Storage Indicator (EIA Report)

What Is the Natural Gas Storage Indicator?

The Natural Gas Storage Indicator is the [U.S. Energy Information Administration's](/energy-data administrator) (EIA) estimate of working natural gas volumes held in underground storage facilities at the national and regional levels. The EIA gives week by week estimates of working gas volumes held in underground storage facilities at the Lower 48 states and five regional levels. Changes in these gas inventories consistently fundamentally reflect net withdrawals or infusions. The report is generally refreshed and accessible each Thursday at 10:30 am EST. Unforeseen changes, for example, better than expected withdrawals or infusions can quickly affect natural gas prices.

Figuring out the Natural Gas Storage Indicator (EIA Report)

The Natural Gas Storage Indicator is a measure of working gas, which is the volume of gas in a supply that is over a predefined base level and is the amount of gas that is ready to move to the marketplace. The EIA report shows gas inventories for the reporting week and previous week, as well as the net change, on a national basis and for East, West and Producing districts. It likewise gives inventories to a year prior and the five-year average for historical comparison.

The overall approach depends on week by week survey data from a sample of administrators of underground storage facilities. These data are utilized to prepare regional and national estimates for all underground storage.

History of the Indicator

Week by week estimates of working gas in storage were first given by the American Gas Association (AGA) in 1994, nonetheless, by 2001, the AGA concluded that it would stop its survey due to resource contemplations. The EIA stepped in to fill the data gap to the natural gas market and released its most memorable estimates of underground U.S. natural gas storage for the week ending May 3, 2002.

The Indicator Goal

As per the EIA, the goal of the week by week storage data program is to give week after week estimates of the level of working gas in underground storage for the United States and five districts. The total volume of natural gas in underground storage repositories is classified as either base gas or working gas. Underground storage facilities might be repositories in exhausted oil and gas fields, springs, or salt caves.

The Natural Gas Storage Indicator is a vital data source for natural gas traders. As per the, endless supply of the report, the natural gas market responds to the derived net change in inventory levels from the prior week. This data on the idea of the net changes between week by week inventory data reports is useful in illuminating trading choices that frequently move natural gas prices 3 pennies to 5 pennies for every million British warm units (MMBtu) every week upon release.