The Energy Information Administration (EIA) in its Annual Energy Outlook (AEO) reports has tended to underestimate natural gas production and growth, and consequently overestimate net gas imports as well, the agency said in a report issued Friday.
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Futures Fall as Traders Overestimate Ivan’s Effect on Storage
Putting the first, albeit small, chink in the rosy natural gas storage picture, the Energy Information Administration (EIA) said Thursday morning that 68 Bcf was put into underground storage for the week ended Sept. 17. The weekly storage injection was considered largely bullish when compared to historical data for the week, but most industry-watchers had been expecting a smaller-than-normal injection because of the impact of Hurricane Ivan on Gulf of Mexico production.
September 24, 2004
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