September 28, 2012 / 6:11 PM / 5 years ago

Canadian spot gas skids on waning demand

* AECO down C$0.29 at C$2.04/GJ
    * Export prices mixed

    CALGARY, Alberta, Sept 28 (Reuters) - Canadian spot natural
gas prices tumbled on Friday on lower weekend demand and
forecasts calling for mild temperatures in big Eastern markets
over the next week.
    Spot gas at the AECO storage hub in southeastern Alberta
fell 29 cents Canadian cents to average C$2.04 a gigajoule.
Deals were done between C$1.95 and C$2.20 a GJ.
    Low temperatures in Toronto, Canada's largest market, will
run a degree or two on either side of normal over the next six
days, Environment Canada said. Southern Alberta is forecast to
be warmer than normal through Monday, then fall to a low of just
under the freezing mark by Thursday.
   
    Alberta's main pipeline system ran at 16 billion cubic feet,
265 million cubic feet under TransCanada Corp's target
line pack. Producers delivered 9.6 bcf into the system and a net
312 mmcf was placed into st o rage facilities in the province.
    Export prices were mixed. Spot gas at Niagara, for shipment
into the U.S. Northeast, rose 12 cents to average $3.35 per
mmBtu.         
    Spot gas at Huntingdon-Sumas on the British
Columbia-Washington border averaged $2.70 per mmBtu, down 22
cents. 
    ($1=$0.98 Canadian)
    
 AECO Forwards:    9/28/12          9/27/12
 bal. September    C$2.00-2.05      C$2.27-2.32
 October           C$2.44-2.49      C$2.48-2.53
 Nov.'12-Oct.'13   C$3.07-3.12      C$3.06-3.11
 
 (Reporting by Jeffrey Jones;Editing by Sofina Mirza-Reid)
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