US Department of Energy Predicts Record Natural Gas Reserves in Country by the End of October
In addition, the agency predicts that natural gas reserves at the end of the heating season 2019-2020 in the United States will amount to 1.94 trillion cubic meters. feet (about 54.8 billion cubic meters), which is 12% more than the average over the past five years. Such indicators are the result of moderate winter temperatures and a high level of gas production, the report says. Future gas injections into storage facilities during the replenishment season (from April to October) may lead to the achievement of record fuel reserves in the country at the end of October.
The EIA notes that stocks were also affected by growth in exports - especially liquefied natural gas (LNG) - during 2019. Earlier, the agency reported that natural gas reserves in European storages were 48% higher than the average values for the last five years for the month of February. Among the reasons for this situation are off-season warm weather in recent months, a record level of LNG imports by Europe in 2019, and an increase in pipeline gas supplies to European countries.