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Natural Gas Storage: EIA Should Report A Large Change In Natural Gas Stocks

January 29, 2020  

The Weather

Last week

Last week (ending January 24), the number of heating degree days (HDDs) surged by 25.0% w-o-w (from 158 to 198). However, we estimate that total energy demand (as measured in total degree days, or TDDs) was approximately 12.0% below last year's level and 1.5% below the 30-year norm. Cooling demand remained too weak to have a meaningful impact on natural gas consumption.

This week

This week (ending January 31), the weather conditions got significantly warmer. We estimate that the number of nationwide HDDs will drop by about 17.0% w-o-w (from 198 to 164). Total average daily demand for natural gas should be somewhere between 118 bcf/d and 122 bcf/d, which is approximately 10.0% above the 5-year average for this time of the year. However, total energy demand (measured in TDDs) should be as much as 32.0% below last year's level and 17% below the 30-year norm.

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