Market Speaks: US underground natural gas storage capacity spikes 1.7% in 2024 says EIA

The US Energy Information Administration or EIA stated in a latest update that underground working natural gas storage capacity in the Lower 48 states increased in 2024. It calculates natural gas storage capacity in two ways: demonstrated peak capacity and working gas design capacity. Both increased in 2024. Underground natural gas storage provides a source of energy when demand increases, balancing US energy needs. In 2024, demonstrated peak capacity rose 1.7%, or 70 billion cubic feet (Bcf), to 4,277 Bcf, while working gas design capacity increased slightly by 0.1%, or 3 Bcf. Demonstrated peak capacity is the sum of the largest volume of working gas stored in each storage field during the previous five-year period, regardless of when the peaks occurred.

In 2024, demonstrated peak capacity increased in four of the five storage regions of the Lower 48 states. The increased demonstrated peak capacity reflected both greater utilization of existing facilities and expansions of existing infrastructure. The largest increase in demonstrated peak capacity was in the Mountain region, where colder-than-normal temperatures during the 2023–24 winter required more working gas in storage to meet winter demand, resulting in increased injection activity during the subsequent months. In California, the California Public Utilities Commission increased the authorized working gas capacity at the Aliso Canyon facility by 67% to 69 Bcf in late August 2024. This regulatory change contributed to increased demonstrated peak capacity in the Pacific region.

Total US working gas design capacity increased slightly in 2024. Working gas design capacity increased 7 Bcf in the Mountain region, offsetting declines elsewhere in the Lower 48 states.

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