Tuesday, January 14, 2014

Canadian Gas Storage

A follow up to a previous post on Canadian gas storage.  It was declining quickly in keeping with a rise in exports to the US during bouts of cold weather.  But Canadian domestic demand is up as well, both residential and industrial, and with production flat YOY, storage may continue its decline or exports may decline.

Look at the daily comparison of withdrawals this season vs last season.  This winter has seen a cumulative 95 BCF more gas withdrawn from storage.  Withdrawals are exceeding last year on almost every day: