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Canadian spot gas falls on mild forecasts

Stocks

   

Tue Feb 14, 2012 1:06am IST

* AECO down C$0.10 to C$2.04/GJ
    * Export prices weaken

    CALGARY, Alberta, Feb 13 (Reuters) - Canadian spot
natural gas prices dropped on Monday as forecasts called for
mild weather in most markets and Alberta short-term supplies
rose.	
    Spot gas at the AECO hub in southeastern Alberta dropped 10
Canadian cents from Friday to average C$2.04 a gigajoule. Deals
were done between C$2.02 and C$2.07 a GJ.	
    Environment Canada said Toronto low temperatures will be
above normal through Sunday. Southern Alberta temperatures are
also expected to be above seasonal average lows for the next
five days.	
    After a cold weekend, AccuWeather.com expects temperatures
in the U.S. Northeast and Midwest, key gas-consuming regions, to
mostly average above normal this week. 	
   	
    Alberta's main pipeline system ran at 16.81 billion cubic
feet, 10 mmcf over operator TransCanada Corp's target
line pack.     	
    Producers delivered 10.4 bcf into the system and a net 1.24
bcf was withdrawn from storage facilities in the province. 	
    Export prices also weakened. Spot gas at Niagara, for
shipment into the U.S. Northeast, dropped 15 cents from Friday
to average $3.00 per mmBtu.         	
    Spot gas at Huntingdon-Sumas on the British
Columbia-Washington border fell 9 cents to average $2.51 per
mmBtu. 	
    ($1=$1.00 Canadian)	
    	
 AECO Forwards:    2/13/12          2/10/12
 Bal. February     C$1.97-2.02      C$2.11-2.16
 March             C$2.01-2.06      C$2.07-2.12
 Nov.'12-Oct.'13   C$3.07-3.12      C$3.06-3.11
 	
 (Editing by Peter Galloway)
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