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Canadian spot gas dips on large storage build
April 5, 2012 / 9:37 PM / 6 years ago

Canadian spot gas dips on large storage build

* AECO down C$0.01 at C$1.70/GJ
    * Export prices fall

    CALGARY, Alberta, April 5 (Reuters) - Canadian spot natural
gas prices dipped on Thursday as U.S. data showed a
larger-than-expected build in storage volumes.	
    Spot gas at the AECO storage hub in southeastern Alberta
slipped 1 Canadian cent to average C$1.70 a gigajoule. Deals
were done between C$1.66 and C$1.74 a GJ.	
    The U.S. Energy Information Administration said inventories
in the United States rose by 42 billion cubic feet last week,
compared with a Reuters survey estimate for 34 bcf.
    Canadian storage volumes rose 0.5 percent to 492.5 bcf.
Canadian Enerdata said facilities across the country were 69.5
percent full on average, compared with just 26.9 percent 12
months earlier. 	
    Environment Canada said low temperatures in Toronto will be
close to normal or slightly warmer over most of the next week.
Southern Alberta lows are expected to be colder than average
through Monday.	
    Alberta's main pipeline system ran at 16.7 billion cubic
feet, 80 million cubic feet below operator TransCanada Corp's
 target line pack.     	
    Producers delivered 10.2 bcf into the system and a net 514
mmcf was injected into storage facilities in the province.	
    Export prices were lower. Spot gas at Niagara, for shipment
into the U.S. Northeast, fell 8 cents to average $2.42 per
    Spot gas at Huntingdon-Sumas on the British
Columbia-Washington border averaged $2.03 per mmBtu, down 6
    ($1=$0.99 Canadian)	
 AECO Forwards:    4/05/12          4/04/12
 Bal. April        C$1.57-1.62      C$1.63-1.68
 May               C$1.64-1.69      C$1.71-1.76
 Nov.'12-Oct.'13   C$2.76-2.81      C$2.77-2.82
 (Reporting by Jeffrey Jones; Editing by Bob Burgdorfer)

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