Record Decline In Natural Gas Inventories
Working gas in storage was 2,262 Bcf as of Friday, January 25, 2008, according to EIA estimates. This represents a net decline of 274 Bcf from the previous week. Stocks were 336 Bcf less than last year at this time and 85 Bcf above the 5-year average of 2,177 Bcf. In the East Region, stocks were 36 Bcf above the 5-year average following net withdrawals of 145 Bcf. Stocks in the Producing Region were 59 Bcf above the 5-year average of 661 Bcf after a net withdrawal of 89 Bcf. Stocks in the West Region were 11 Bcf below the 5-year average after a net drawdown of 40 Bcf. At 2,262 Bcf, total working gas is within the 5-year historical range.
