Elliott

Rough Times Ahead for Natural Gas

Working gas in storage is 500 Bcf above normal and producers continue to inject more at the rate of 60 to 70 Bcf a week. Storage usally peaks around Nov 1 and then is drawn down at approx rate of 450 Bcf per month during winter. Just to draw down the excess in storage is probably going to take until December, even longer if we get the expected mild El Nino winter.