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Canadian spot gas climbs on heat, tight supply

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Fri Jun 29, 2012 1:07pm EDT

* AECO rises C$0.04 to C$2.15/GJ
    * Export prices lower

    CALGARY, Alberta, June 29 (Reuters) - Canadian spot natural
gas prices rose on Friday as forecasters called for hot weather
and Alberta supplies tightened ahead of the Canada Day long
weekend.
    Spot gas at the AECO storage hub in southeastern Alberta
gained 4 Canadian cents to average C$2.15 a gigajoule. Deals
were done between C$2.11 and C$2.18.
    Toronto temperatures are forecast to be above normal for
most of the next six days, Environment Canada said. Southern
Alberta highs are also expected to exceed the seasonal average
expected for most days in the period.
   
    Alberta's main pipeline system ran at 16.5 billion cubic
feet, 295 mmcf below operator TransCanada Corp's target
line pack.
    Producers delivered 9.7 bcf into the system and a net 258
mmcf was injected into storage facilities in the province.
    Export prices declined. Spot gas at Niagara, for shipment
into the U.S. Northeast, fell 5 cents to average $2.91 per
million British thermal units. 
    Spot gas at Huntingdon-Sumas on the British
Columbia-Washington border averaged $2.44 per mmBtu, down 3
cents. 
    ($1=$1.02 Canadian)
    
 AECO Forwards:    6/29/12          6/28/12
 July              C$2.10-2.15      C$2.07-2.12
 August            C$2.14-2.19      n/a
 Nov.'12-Oct.'13   C$2.89-2.94      C$2.93-2.98
 
 (Reporting by Jeffrey Jones; Editing by Dale Hudson)
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