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Canadian spot gas falls on supply, forecasts
April 30, 2012 / 7:11 PM / in 6 years

Canadian spot gas falls on supply, forecasts

* AECO drops C$0.03 to C$1.59/GJ
    * Export prices rise

    CALGARY, Alberta, April 30 (Reuters) - Canadian spot natural
gas prices fell on Monday on high short-term supply in Alberta
and moderate forecasts for most markets. 	
    Spot gas at the AECO storage hub in southeastern Alberta
fell 3 Canadian cents to average C$1.59 a gigajoule. Deals were
done between C$1.57 and C$1.61 a GJ.	
    Environment Canada said low temperatures in Toronto will be
above normal through Sunday. Southern Alberta lows will be near
the seasonal average for the next six days.	
    The U.S. National Weather Service's six- to 10-day outlook
issued on Sunday again called for above-normal readings for most
of the nation. 	
    Alberta's main pipeline system ran at 16.98 billion cubic
feet, 173 mmcf above operator TransCanada Corp's target
line pack.     	
    Producers delivered 10.29 bcf into the system and a net 765
mmcf was injected into storage facilities in the province.	
    Export prices strengthened. Spot gas at Niagara, for
shipment into the U.S. Northeast, rose 2 cents to average $2.34
per mmBtu.         	
    Spot gas at Huntingdon-Sumas on the British
Columbia-Washington border averaged $1.92 per mmBtu, up 10
    ($1=$0.99 Canadian)	
 AECO Forwards:    4/30/12          4/27/12
 May               C$1.53-1.58      C$1.53-1.58
 June              C$1.61-1.66         n.a.
 Nov.'12-Oct.'13   C$2.61-2.66      C$2.71-2.76
 (Reporting by Scott Haggett; Editing by Alden Bentley)

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