Natural gas storage deficit to five-year average continues to narrow

Storage injections have continued to outpace the five-year (2009-13) average this summer, with inventories as of September 5 at 2,801 billion cubic feet, according to data from the Weekly Natural Gas Storage Report. The winter of 2013-14 led to a large drawdown in inventories, with stocks ending March 2014 almost 1 trillion cubic feet lower than the five-year average and at their lowest end-March level since 2003. Relatively higher weekly net injections into storage reduced that deficit to 463 Bcf as of September 5.