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Natural Gas Storage Indicator

Updated on May 19, 2024 , 428 views

What is Natural Gas Storage Indicator?

The EIA or Energy Information Administration is in charge of evaluating the average of the natural gas that is available in the underground reservoirs. This is what explains the Natural Gas Storage Indicator meaning. They estimate this information on a global or national level. Basically, the EIA tells the average natural gas volume available in the underground storage every week. Note that the level of the natural gas stored in the underground facilities changes every week based on the withdrawals and injections.

Natural Gas Storage Indicator

The EIA delivers this update on Thursday every week. It is important to note that unusual withdrawals and injection levels can affect the prices of natural gas. That’s what the Natural Gas Storage Indicator is used for.

EIA Natural gas Survey

The Energy Information Administration is responsible for tracking the total volume of the natural gas that is available for sale. This analysis helps the EIA to generate a comprehensive report suggesting the total amount of natural gas available in the reservoir and the changes in the gas volume due to the injections and withdrawals. These reports measure the gas level in the entire nation. It mainly focuses on the areas that are the prime suppliers of natural gas. The Energy Information Administration offers the report featuring the previous records of the changes in natural gas. It gives the past year’s gas report as well as the five-year report to make it easier for the researchers and analysts to compare the performance and prices of gas.

The survey is conducted to get a close estimate of the gas available in the underground reservoir. The survey includes people working in these underground gas storage facilities in different states. As mentioned above, these weekly reports are used to get an estimate of the natural gas availability region-wise. EIA also presents the reports featuring the weekly gas statistic on a national level. This information is important to determine the Market prices of natural gas.

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First Natural Gas Storage Indicator

The history of the Natural Gas Storage Indicator dates back to 1994. AGA or American Gas Association would survey the operators working in the underground gas storage facilities to find out the availability of the natural gas on a regional and national level. Seven years later, they stopped these surveys. That’s when the Energy Information Administration stepped in. They started supplying information about the current natural gas levels in the reservoirs every week. They drafted the first report estimating the current level of the gas in May 2002.

The major objective of the Energy Information Administration is to generate accurate reports featuring the estimates of the working gas available in the reservoirs. They give these estimates for the underground facilities in the United States and other regions. The amount of natural gas present in these underground storage places is commonly known as the working gas. The data is important for natural gas investors. As mentioned above, the estimated natural gas in the reservoirs has a direct impact on the prices of this commodity in the investment market.

Disclaimer:
All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.
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