North America gas weekly update: Storage injections set to ramp up
It’s that time of the year when storage injections start to ramp up due to seasonally declining power demand. In addition, each fall Cove Point LNG goes under total outage for its annual planned maintenance event. Last year at this time we kicked off a string of five consecutive triple-digit storage weeks totalling 571 bcf. This year is unlikely to match it, but weekly injections ahead will nonetheless approach triple digits. This weekly natural gas commodity report seeks to explore: • Will the storage surplus continue to shrink even as injections rise? • Why is Permian production weaker? • How fast will power demand fall?