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24/7 Wall St.

Blue flames of a gas stoveThe U.S. Energy Information Administration (EIA) today reported the U.S. natural gas stocks declined by 171 billion cubic feet last week, slightly more than the decline of 167 billion cubic feet anticipated by analysts. Natural gas futures prices were up fractionally in advance of the EIA’s report, at around $3.45 per million BTUs, and remained essentially flat immediately following the EIA report.

The EIA reported that U.S. working stocks of natural gas totaled 2.23 trillion cubic feet, about 308 billion cubic feet higher than the five-year average of 1.92 trillion cubic feet. Working gas in storage totaled 2.54 trillion cubic feet for the same period a year ago.

Natural gas prices have been getting a boost from nuclear power plant outages of around 16,000 megawatts this past week. Natural gas-fired plants typically respond to outages in nuclear power generation. Weather forecasts for the next 10 days call for continuing colder…

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SMIPP Ltd is a DG Independent Power Plant Private Joint Stock Company. 25-60 MW Gas Turbines Power Generators

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