Natural Gas Storage Indicator (EIA Report)

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Natural Gas Storage Indicator (EIA Report)

Overview

The Natural Gas Storage Indicator is the U.S. Energy Information Administration’s (EIA) weekly estimate of working natural gas volumes held in underground storage. It reports national and regional inventory levels, net changes from the previous week, and historical comparisons that inform market participants about supply conditions.

What the Indicator Measures

  • Working gas: the volume of gas in a reservoir above the base (nonwithdrawable) gas and therefore available for sale and delivery.
  • Reported values: inventories for the current reporting week and previous week, the net change, year‑ago inventory, and the five‑year average.
  • Geographic scope: estimates for the Lower 48 states and five regional levels (including East, West, and Producing regions).

How the Data Is Collected and Reported

  • The EIA compiles weekly survey data from a sample of underground storage operators and uses these responses to produce regional and national estimates.
  • The weekly report typically publishes every Thursday at 10:30 a.m. Eastern time.
  • Weekly changes primarily reflect net injections (adds to storage) or withdrawals (removals from storage).

History

  • Weekly working‑gas estimates were first provided by the American Gas Association starting in 1994.
  • After the AGA discontinued its survey, the EIA began issuing its own estimates; the first EIA weekly report covered the week ending May 3, 2002.

Types of Underground Storage

Underground storage facilities include:
* Depleted oil and gas fields
* Aquifers
* Salt caverns

Why It Matters

  • Traders and market participants use the report to gauge supply adequacy, seasonal demand pressure, and short‑term price direction.
  • Unexpectedly large withdrawals or injections relative to expectations can move natural gas prices immediately upon release.
  • Typical reported net‑change reactions historically move prices on the order of a few cents per million British thermal units (MMBtu) in the short term.

Key Takeaways

  • The EIA’s Natural Gas Storage Indicator provides timely weekly estimates of working gas in underground storage at national and regional levels.
  • It is based on operator surveys and shows current inventories, recent change, and historical comparisons.
  • The report is closely watched by markets because atypical injections or withdrawals can influence natural gas prices.