Husky, Renaissance Join Top Canadian Exporters
Two producers-Husky Oil Ltd. and Renaissance Energy Ltd.- have
jumped into the ranks of top 10 Canadian suppliers of natural gas
to the United States, according to a scorecard kept by the U.S.
Department of Energy's Office of Fossil Energy.
Husky and Renaissance, both growing independents, joined an
inner circle that delivered 1.975 Tcf or 65% of the 3.05 Tcf in
Canadian exports to the U.S. in 1998.
The top 10 included TransCanada PipeLines' TransCanada Gas
Services with 539.9 Bcf of 1998 exports; Pan-Alberta Gas, 384.8
Bcf; Engage Energy Canada, 245.2 Bcf; ProGas Ltd., 217.6 Bcf; Enron
Canada, 143.9 Bcf; Duke Energy, 122.1 Bcf; BP-Amoco Canada, 102.4
Bcf; PanCanadian Petroleum, 79.9 Bcf; Renaissance, 72.7 Bcf; and
Husky, 67.3 Bcf.
PanCanadian and BP-Amoco are running neck-and-neck for the title
of top Canadian gas producer. But the top suppliers' list confirmed
that gas exports to the U.S. continue to be a collective
enterprise, giving virtually all Canadian producers stakes in U.S.
markets. Traditional "aggregators" that represent cross-sections
of producers organized in decades-old supply pools built on
decades-long contracts --TransCanada, Pan-Alberta and ProGas --
still accounted for 1.1 Tcf or more than one-third of exports last
year. Engage (a partnership of Westcoast Energy and Coastal Corp.),
Enron and Duke likewise draw on large pools of Canadian suppliers,
but as private marketing houses rather than co-ops.
The aggregators all vow to keep on growing, at least at a rate
that retains their market share as Canadian exports head towards a
peak which new forecasts by the National Energy Board project to go
as high as 5 Tcf in 2018. Pan-Alberta, which now has
producer-owner-managers, especially is formulating big plans. The
co-op survived a prolonged internal feud and lawsuit that resulted
in members wresting control from Nova Corp. following that
company's takeover by TransCanada last year.
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