Actionable news
All posts from Actionable news
Actionable news in PEIX: Pacific Ethanol, Inc.,

Natural Gas Storage: Weekly Estimation Errors


EIA surveys all operators for monthly data.

EIA surveys a sample for weekly data.

Weekly data found to be underestimating monthly data.

The Energy Information Administration (EIA) recently updated its report, "Differences Between Monthly and Weekly Working Gas In Storage." It concludes:

Based on a comparison of weekly estimates and monthly data from January 2010 through May 2016, estimated total working gas stocks have exhibited an average absolute error of 12 billion cubic feet, or 0.5 percent."

Monthly Methodology (EIA-191)

The Form EIA-191 is completed by all operators of underground natural gas storage fields in the United States. Data are provided for storage volumes in each storage field and reservoir. Each month EIA presents these data in the Natural Gas Monthly aggregated by state and storage region. Approximately 140 underground natural gas storage operators report for their operations at approximately 413 storage fields.

Weekly Methodology (EIA-912)

The EIA explains that the data it collects for its weekly survey is provided by a sample of storage operators drawn from the census of storage operators that report on Form EIA-191. The sampling procedure uses a...