EIA Natural Gas Storage Estimates - Huge Withdrawal Expected Tomorrow

DJ Analysts See 149-Billion-Cubic-Feet Drop in U.S. Natural Gas Inventories


  By Timothy Puko


  Analysts and traders expect government data scheduled for release Thursday to show natural gas inventories shrunk by
25 times as much as they usually do this time of year.

  The U.S. Energy Information Administration is expected to report that storage levels declined by 149 billion cubic
feet of gas during the week ended Nov. 21, according to the average forecast of 14 analysts and traders surveyed by The
Wall Street Journal.

  The EIA is scheduled to release its storage data for the week on Wednesday at noon EDT. It is giving an advanced
release because of the Thanksgiving holiday.

  For the Nov. 21 week, the median estimate is for a drop of 155.5 bcf. Estimates range from a decline of 111 bcf to a
decline of 168 bcf.

  The estimate for Nov. 21 is more than the 17 bcf drained from storage for the same week last year and the 6-bcf
five-year average injection for that week.

  If the storage estimate is correct, inventories as of Nov. 21 totaled 3.5 trillion cubic feet, 8.4% below levels from
a year ago and 9.7% below the five-year average for the same week.


  Write to Timothy Puko at tim.puko@wsj.com


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  (END) Dow Jones Newswires

  November 25, 2014 13:07 ET (18:07 GMT)

  Copyright (c) 2014 Dow Jones & Company, Inc.

112514 18:07 -- GMT
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