New natural gas storage

What happened to natural gas storage capacity?

Demonstrated peak natural gas storage capacity in the United States had fallen in recent years, declining in five out of the last seven years since reaching its highest level on record, 4,362 Bcf in 2017 (covering 2011–16).

How much natural gas is stored underground?

Underground working natural gas storage capacity in the United States totaled approximately 4,796 Bcf as of May 2024. About one-third of the United States’ underground storage capacity is located in the South Central region, which stretches from Texas and Kansas to Alabama. The Midwest accounts for 26% capacity, and the East accounts for 23%.

Did working natural gas storage capacity increase in 2023?

Underground working natural gas storage capacity in the Lower 48 states increased in 2023. We use two metrics to assess working natural gas storage capacity. The first metric—demonstrated peak capacity—rose 3% by 124 billion cubic feet (Bcf) in 2023, reflecting the increased use of natural gas storage due to market conditions.

How do we assess working natural gas storage capacity?

We use two metrics to assess working natural gas storage capacity. The first metric—demonstrated peak capacity—rose 3% by 124 billion cubic feet (Bcf) in 2023, reflecting the increased use of natural gas storage due to market conditions. The second metric—working gas design capacity—fell close to 0.0%, or 3 Bcf, in 2023.

Does market conditions affect natural gas storage capacity?

In Michigan, the Washington 10 Gas Storage facility reported an increase in total capacity of nearly 3.5 Bcf. In Kentucky, the Louisville Gas and Electric Company reported the closure of its Doe Run Storage Field, accounting for a capacity reduction of 4 Bcf. Market conditions can affect the growth of natural gas storage capacity.

Why is natural gas storage important?

Natural gas storage is primarily used to balance seasonal fluctuations in natural gas demand because although natural gas production is relatively stable throughout the year, natural gas consumption peaks in the winter when natural gas use for space heating is greatest.