The US and Canada will comfortably meet any increase in gas demand even if the early winter is colder than expected.
The US is expected to be in a gas glut at the end of the 2016 injection season even though the rate of storage additions is low. The US had 97.27 bcm of gas stocks during the week ending 2 September, an increase of 6% on an annual basis and 9.8% higher than the five-year average. Meanwhile, Canada is already in a glut, with 19.98 bcm of gas in storage. This is 91.9% of capacity and an increase of 20.2% on an annual basis.