U.S. Natural Gas Storage Sites End Winter 2024-25 Season at Three Year Low: EIA

Below seasonal normal temperatures across the U.S. during January and February led to higher natural gas consumption and higher gas withdrawals from U.S. natural gas storage sites than normal, according to an April 28 report published by the U.S. Energy Information Administration. At the end of March, U.S. underground storage in the Lower 48 states was at its lowest amount since 2022, with stocks four percent lower than the previous five-year (2020-2024) average for that time of the year.

Natural gas storage sites across the Lower 48 states began the winter 2024-25 season with 3,922 billion cubic feet (Bcf). U.S. gas inventories were six percent above the previous five-year average (2019-23), despite injections into storage being below average throughout the entire injection season which runs from April to October. Lower natural gas volumes were injected nearly every week during the injection season last year than the previous five-year average, due to storage sites starting the injection season at relatively high capacity.

During January and February, below seasonal normal temperatures across the U.S. led to higher natural gas usage in the commercial, electric power and residential sectors. U.S. natural gas usage in the combined commercial and residential sectors averaged 97 Bcf/d, up 16 percent compared to January and February 2024. Moreover, a cold snap during the second half of January led to the fourth highest weekly gas withdrawal from storage at 321 Bcf for the week ending January 24. Natural gas storage withdrawals during January and February totaled close to 1,650 Bcf, or 33 percent more than the five-year average for those months.

Natural gas stocks in the Mountain and Pacific regions at the end of March surpassed the five-year average by 53 percent and 18 percent, while natural gas stocks in other regions were lower than the five-year average. As of the end of March, natural gas stocks in underground storage facilities totaled 1,786 Bcf. Above seasonal normal temperatures during March led to net natural gas storage injections for the month, which is earlier than usual.