Canadian natural gas production and storage are both elevated heading toward shoulder season – much like in the United States – and bearish pressure on prices persists. There are hints that exploration and production (E&P) companies may pull back, following the lead of their Lower 48 brethren and creating the potential for supply/demand balance this…
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Articles from Nova
Canadian Natural Delivers Record Natural Gas Output, with LNG Canada Ramp in Sight
Calgary-based Canadian Natural Resources Ltd. achieved record natural gas production during 2023, up 3% year/year and 5% higher during the final three months of the year. Besides breaking gas production records, with an average 2.23 MMcf/d in 4Q2023 and 2.15 Bcf/d for the year, the explorer also topped previous oil output records. During a conference…
Natural Gas Futures Head for Positive Session But Fall from Morning Highs — MidDay Market Snapshot
Natural gas futures retreat from early highs as market continues monitoring signs of production decline Expiring March Nymex contract trading at $1.656 as of 2:28 p.m. ET, up 5.3 cents day/day but off from $1.730 high Bloomberg estimates put domestic production at 102.5 Bcf/d for Monday; Wood Mackenzie’s estimate at 102.9 Bcf/d Per Gelber &…
Enbridge Touts U.S. Utility Expansion, Long-Term Natural Gas Export Strength
Enbridge Inc. heralded the more than $20 billion of acquisitions it announced in 2023, including a string of deals to transform its natural gas utility operations in the Lower 48. The utilities would boost Enbridge’s Lower 48 customer base to 7 million and position it for long-term growth following the surge in fourth-quarter and full-year…
Enbridge Gauging Support to Boost Dawn’s Daily Capacity by 91,200 MMBtu in Late 2027
Enbridge Inc.’s natural gas subsidiary is testing support through mid-July to boost firm transportation service capacity for up to 96,000 GJ/d (91,200 MMBtu/d) at the Dawn Hub in Eastern Canada. If there is enough demand, the Enbridge Gas Inc. expansion could launch by Nov. 1, 2027. Service could begin sooner, depending on support, Enbridge noted. …
Are Higher Canada AECO Natural Gas Prices a Pipe Dream?
Discounted pricing at the NOVA/AECO C natural gas hub in Southern Alberta is likely to remain a fact of life over the near term, even if pipeline expansions and LNG exports in Western Canada come online as scheduled, according to experts. Abundant gas supply from the Western Canadian Sedimentary Basin (WCSB) and limited egress capacity…
TC Energy’s Planned 81 MW Solar Plant to Help Power Natural Gas System
TC Energy Corp. is set to bring utility-scale solar power to its product line with the first C$146 million ($109 million) project at its Calgary home base. The initial generating site would have an 81 MW capacity and include a jumbo battery. It would supply a suburban community, as well as TC’s pipeline network. The…
As Western Canadian Production Ramps Up, Natural Gas Prices Plummet
U.S., European and Asian natural gas prices soared this summer amid enduring global demand and worries about strained supplies. Western Canadian prices, in contrast, collapsed. What gives? Just as Canadian producers bolstered output to pandemic-era highs to help meet global demand this summer, a series of pipeline restrictions cut into takeaway capacity. Unplanned outages and…
TC Energy Secures Approval for Nova Natural Gas Pipe Expansion in Western Canada
TC Energy Corp. on Wednesday got a green light from Canadian regulators to advance an expansion of Nova Gas Transmission Ltd. (NGTL), allowing more natural gas supply to be moved from the Montney, Duvernay and Deep Basin formations.
Bear Head LNG Project Granted Extension by Nova Scotia Regulator
A three-year reprieve has been granted from a provincial deadline at the end of this year for a delayed Australian plan to build a natural gas export terminal on the Canadian east coast in Nova Scotia.