Wednesday, February 12, 2014

Western Canada Natural Gas Storage and Production Update

With each day the natural gas storage deficit increases as record withdrawals from TransCanada storage facilities in Alberta continue.  Gas receipts from producing fields have also fallen off, either due to weather or some other factors.  

Production has lately fallen from the mid-January highs above 10 BCFD, to about 9.5 BCFD over the past week.  Storage withdrawals are also steady near 4 BCFD, which has increased the Year-on-Year excess to 139 BCF.