July 16, 2012 / 7:44 PM / 5 years ago

Canadian spot gas drops on high short-term supply

* AECO falls C$0.06 to C$2.12/GJ
    * Export prices mixed

    CALGARY, Alberta, July 16 (Reuters) - Canadian spot natural
gas prices fell on Friday despite forecasts for hot weather in
big markets as short-term supply in Alberta rose.
    Spot gas at the AECO storage hub in southeastern Alberta
fell 6 Canadian cents from Friday to average C$2.12 a gigajoule.
Deals were done between C$2.08 and C$2.17.
    Southern Alberta temperatures are expected to be at or above
the seasonal average through Sunday, according to Environment
Canada. Toronto temperatures are forecast to be above average
through the period, rising to as much as 36C (97F) on Tuesday.
   
    Alberta's main pipeline system ran at 16.88 bcf, 80 mmcf
above operator TransCanada Corp's target line pack.
    Producers delivered 9.68 bcf into the system and a net 508
mmcf was injected into storage facilities in the province.   
Export prices were mixed. Spot gas at Niagara, for shipment into
the U.S. Northeast, rose 2 cents from Friday to average $3.06
per mmBtu.         
    Spot gas at Huntingdon-Sumas on the British
Columbia-Washington border averaged $2.45 per mmBtu, down 8
cents. 
    ($1=$1.01 Canadian)
    
 AECO Forwards:    7/16/12          7/13/12
 Bal. July         C$2.06-2.11      C$2.15-2.20
 August            C$2.13-2.18      C$2.16-2.21
 Nov.'12-Oct.'13   C$2.91-2.96      C$3.00-3.05
 
 (Reporting by Scott Haggett; editing by Carol Bishopric)

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