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US natgas end-of-season storage to slide to three-year low in March



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Nov 8 (Reuters) -U.S. natural gas storage is on track to end the November-March winter withdrawal season at a three-year low of 1.845 trillion cubic feet (tcf) on March 31, 2025, according to analysts' estimates.

That compares with an eight-year high of 2.306 tcf of gas in storage at the end of the winter withdrawal season in 2024, a three-year low of 1.401 tcf at the end of March 2022 and a five-year (2020-2024) average of 1.878 tcf.

Looking ahead to the end of the April-October 2025 summer injection season, analysts project storage will rise to 3.586 tcf on Oct. 31, 2025, the lowest in three years.

That compares with an eight-year high of around 3.932 tcf at the end of the summer injection season in 2024, a four-year low of 3.569 tcf in 2022 and a five-year (2020-2024) average of 3.781 tcf.

The 384 active storage fields in the Lower 48 states had a design capacity of 4.666 tcf in November 2023, according to the latest federal data available.


The following lists analysts' storage estimates in trillion cubic feet with the most recent estimates on top:


Company

Mar 31, 2025

Mar 31, 2025

Oct 31, 2025

Oct 31, 2025

Date


tcf

tcf

tcf

tcf

Current

Previous

Current

Previous

Tudor Pickering Holt & Co

1.800

3.680

Nov 8

EBW Analytics

2.150

2.107

Nov 8

LSEG

1.406

1.202

3.240

Nov 8

Piper Sandler

1.860

Oct 22

Mizuho

1.932

1.932

Oct 21

U.S. EIA

1.939

1.942

3.837

Oct 8



Reporting by Scott DiSavino

For financial firm LSEG, see: cpurl://apps.cp./cms/?pageid=usa-gas
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