The government of Canada’s top natural gas-producing jurisdiction is braced for a long spell of lean times from oversupplied North American markets.
Canada
Articles from Canada
Near-Flat Quotes Return to Most of Market
Although residents of the Upper Plains, Midwest, Northeast and most of Canada can expect subfreezing lows Wednesday, only a few delivery points in the Northeast showed any signs of significant heating load in their pricing Tuesday. Otherwise, following a day of gains at a large majority of locations the market was exhibiting some signs of weakness Tuesday as small upticks moderately dominated a near-flat mix of quotes.
Alberta’s Cash Cow Is Ailing
The government of Canada’s top natural gas-producing jurisdiction is braced for a long spell of lean times from oversupplied North American markets.
Industry Briefs
Repsol and Qatargas have signed a multiyear agreement for Qatargas to supply liquefied natural gas (LNG) to Repsol Energy Canada Ltd. at the Canaport LNG facility in Saint John, NB. Qatargas will deliver LNG to Canaport LNG using both Q-Flex and Q-Max ships, which are the largest LNG tankers in the world with capacity to carry the equivalent of approximately 5.6 and 4.6 Bcf, respectively.
Northeast Plunges Again Lead Dips Across Board
As could be expected, weekend warming trends in many parts of the U.S. and Canada combined with a forecast of above-normal temperatures in most of the eastern two-thirds of the U.S. this week to keep prices falling at all points Friday. The previous day’s March futures drop of nearly 6 cents in the face of a nominally bullish storage report and the usual weekend decline of industrial load put further downward pressure on the cash market.
NOVA’s Horn River Project Gets Approval
Canada’s National Energy Board (NEB) Thursday approved an application from TransCanada unit NOVA Gas Transmission Ltd. (NGTL) to construct and operate its C$307 million Horn River Project, an extension of NGTL’s Alberta System to transport sweet natural gas from the Horn River area in British Columbia (BC) to a tie-in point on the existing Northwest Mainline of the Alberta System.
Forecaster: ‘Dangerous’ Canadian Cold Blast Approaching U.S.
A wave of frigid winter air forecast to sweep out of northwestern Canada and Alaska next week could bring single-digit and below-zero high temperatures to much of the United States through the third week of January, AccuWeather.com said Thursday.
Some Northeast Quotes Still Soaring; Most Prices Lower
Forecasts of a plunge of arctic cold from Canada into the U.S. Midwest and Northeast failed to prevent a decline of spot prices at most points Tuesday.
Oregon LNG Developer Eyes Generation Plants
With a growing generation portfolio elsewhere in North America, Canada-based Fort Chicago, the backer of one of two remaining proposed liquefied natural gas (LNG) projects in Oregon, is also looking longer term to develop gas-fired generation plants around the Pacific Northwest. The effort will go forward whether or not its Jordan Cove LNG project at Coos Bay, OR, ever gets built.
Industry Brief
Encana Natural Gas Inc. has opened a compressed natural gas fueling station in Coushatta, LA, its first, to serve the company’s fleet of vehicles in Red River Parish. Starting next year the Encana Corp. subsidiary expects to offer the station’s fueling service to other corporate fleets in the region. The company said plans to open its next four natural gas fueling stations, one in each of the states of Wyoming and Colorado and two in Western Canada next year.