Pacific Region natural gas storage alarming low

H

Hawkeye10

ButterMilk Man
Contributor
Off 11.5% from last year and 19.7% from the five year average. We dont have the ability to move gas from the East of the country to the West and for some reason production is down. I suspect that California Power making it difficult for gas producers to operate has a lot to do with it, but this is going to be a problem, and not just this year. I find no mention of this from the Mind Molders, which of course does not come as a shock.

The rest of the nation is in a good situation, over the last three months injections into storage for winter caught up to the five year average.

https://ir.eia.gov/ngs/ngs.html
 
Pacific Region gas storage now off 21.5% from the five year average to date.

We are going in reverse.
 
He just keeps going, and going, and going, and.....

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Hawkeye10 said:
Off 11.5% from last year and 19.7% from the five year average. We dont have the ability to move gas from the East of the country to the West and for some reason production is down. I suspect that California Power making it difficult for gas producers to operate has a lot to do with it, but this is going to be a problem, and not just this year. I find no mention of this from the Mind Molders, which of course does not come as a shock.

The rest of the nation is in a good situation, over the last three months injections into storage for winter caught up to the five year average.

https://ir.eia.gov/ngs/ngs.html
Click to expand...
California has oil and gas reserves but it;s production is 1/3rd or what it was in 1985. And gas is discovered by drilling.
 
I am not sure how much gas the Alcoa plant in FERNDALE WA used before it closed down two years ago, but I know it was a lot. But still being 21.5% off the five year average ain't good.
 
The result: historically high natural gas prices that have surged to levels not seen since the summer of 2018. The surge in prices has spread across the Pacific Northwest, farther south throughout California and inland across the Rockies.

On Thursday, Northern California’s PG&E Citygate recorded spot natural gas prices as high as $36.00/MMBtu. SoCal Citygate cash reached a $33.00 high, while Malin hit $32.00. And that only proved to be batting practice.

On Friday, the highest price on the West Coast hit $55.00, with offers up to $60.00.

“I’ve seen prices spike before, but over a short period of time,” said Michael Wiliamson. His consulting firm Williamson Energy purchases wholesale natural gas for end-use customers in California. “This sustained period of high prices has never happened before. There’s a lot of different things going on, and they’re all falling at the same time.”
Click to expand...
https://www.naturalgasintel.com/per...west-coast-northern-california-hits-55-mmbtu/

Great analysis at the link.
 
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