Comparisons

Total combined natural gas purchase and sales volumes reached 124,752 TBtu in 2011, a 2.5% increase compared with 121,682 TBtu in 2010, according to an analysis by Natural Gas Intelligence (NGI) of 2011 Form 552 filings with FERC.

Total combined natural gas purchase and sales volumes reached 124,752 TBtu in 2011, a 2.5% increase compared with 121,682 TBtu in 2010, according to an analysis by Natural Gas Intelligence (NGI) of 2011 Form 552 filings with FERC.

Making good on its comparisons to Saudi Arabia in terms of natural energy resources, the Marcellus Shale has been making its heft felt on the Northeast region’s pipelines, wreaking havoc with traditional basis on lines such as Tennessee Gas Pipeline.

Making good on its comparisons to Saudi Arabia in terms of natural energy resources, the Marcellus Shale has been making its heft felt on the Northeast region’s pipelines, wreaking havoc with traditional basis on lines such as Tennessee Gas Pipeline.

Making good on its comparisons to Saudi Arabia in terms of natural energy resources, the Marcellus Shale has been making its heft felt on the Northeast region’s pipelines, wreaking havoc with traditional basis on lines such as Tennessee Gas Pipeline.

While Wednesday’s Energy Information Administration (EIA) report that 19 Bcf was injected into inventories for the week ending Nov. 5 came in below historical comparisons and most industry expectations, the injection did set a new all-time record for natural gas in storage at 3,840 Bcf, which the natural gas futures market took note of.

While Thursday’s news of a 52 Bcf addition to natural gas storage inventories for the week ending Aug. 14 was bullish compared to most expectations and historical comparisons for the week, prompt-month natural gas futures, in response to the report, dipped below $3 for the first time in seven years before closing out the day at $2.945, down 17.4 cents from Wednesday’s finish.

Even though the natural gas storage report for the week ended Oct. 3 revealed an injection 20 Bcf larger than historical comparisons for the week, November natural gas futures prices, after an initial knee jerk lower, were fairly even keel in Thursday trade. Taking a break from declines, the prompt-month natural gas contract gained 8.3 cents to close at $6.825. November crude dropped another $2.36 to finish at $86.59/bbl.

While the 57 Bcf injection into natural gas storage for the week ended June 13 was well under historical comparisons, it appears traders were expecting an even lower build Thursday morning as July natural gas futures sunk following the 10:35 a.m. EDT report from the Energy Information Administration (EIA). The prompt-month contract closed Thursday’s regular session at $12.861, down 34.9 cents from Wednesday’s close.