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Canadian spot gas rises on tightening short-term supply
March 14, 2012 / 7:18 PM / 6 years ago

Canadian spot gas rises on tightening short-term supply

* AECO rises C$0.09 to C$1.71/GJ
    * Export prices climb

    CALGARY, Alberta, March 14 (Reuters) - Canadian spot
natural gas rose on Wednesday as short-term supply in Alberta
tightened.	
    After touching decade lows earlier this week, spot gas at
the AECO storage hub in southeastern Alberta rose 9 Canadian
cents to average C$1.71 a gigajoule. Deals were done between
C$1.68 and C$1.74 a GJ.	
    Environment Canada said low temperatures in Toronto and
southern Alberta are forecast to be above normal for the next
six days, in some cases by several degrees.	
     The U.S. National Weather Service six to 10-day outlook
issued on Tuesday again called for above or much-above-normal
readings for about the eastern two-thirds of the nation and
below-normal readings only in the West.	
   	
    Alberta's main pipeline system ran at 16.79 billion cubic
feet, 13 mmcf below operator TransCanada Corp's target
line pack.     	
    Producers delivered 10.11 bcf into the system and a net 105
mmcf was withdrawn from storage facilities in the province.	
    Export prices strengthened. Spot gas at Niagara, for
shipment into the U.S. Northeast, rose 3 cents to average $2.56
per mmBtu.         	
    Spot gas at Huntingdon-Sumas on the British
Columbia-Washington border averaged $2.17 per mmBtu, up 5 cents.	
    ($1=$0.99 Canadian)	
    	
 AECO Forwards:    3/14/12          3/13/12
 Bal. March        C$1.67-1.72      C$1.62-1.67
 April             C$1.73-1.78      C$1.66-1.71
 Nov.'12-Oct.'13   C$2.82-2.87      C$2.69-1.74
 	
 (Reporting by Scott Haggett)

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