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Canadian spot gas climbs on futures rise, eastern heat

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Wed Sep 12, 2012 3:36pm EDT

* AECO up C$0.08 at C$2.34/GJ
    * Export prices climb

    CALGARY, Alberta, Sept 12 (Reuters) - Canadian spot natural
gas prices jumped to their highest in six weeks on Wednesday on
rising futures and warm temperatures in Eastern markets.
    Spot gas at the AECO storage hub in southeastern Alberta
rose 8 Canadian cents to average C$2.34 a gigajoule, the highest
since August 1. Deals were done between C$2.30 and C$2.39 a GJ.
    Daytime temperatures in Toronto, Canada's largest market,
are forecast to above or well above normal for the rest of the
week until Tuesday, Environment Canada said. Southern Alberta
temperatures will be on either side of normal through Tuesday.
   
    Alberta's main pipeline system ran at 15.85 billion cubic
feet, 388 million cubic feet under TransCanada Corp's 
target line pack. Producers delivered 9.3 bcf into the system
and a net 428 mmcf was placed into st o rage facilities in the
province.
    Export prices also climbed. Spot gas at Niagara, for
shipment into the U.S. Northeast, rose 8 cents to average $3.31
per mmBtu.         
    Spot gas at Huntingdon-Sumas on the British
Columbia-Washington border averaged $2.81 per mmBtu, also up 8
cents. 
    ($1=$0.98 Canadian)
    
 AECO Forwards:    9/12/12          9/11/12
 bal. September    C$2.36-2.42      C$2.32-2.37
 October           C$2.39-2.44      C$2.34-2.39
 Nov.'12-Oct.'13   C$2.90-2.95      C$2.83-2.88
 
 (Reporting by Scott Haggett; editing by Andrew Hay)
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