Wednesday, December 21, 2016

Alberta Natural Gas Production Returning to Normal, Storage Withdrawals Ease

Coinciding with the recent cold snap, TC Nova's natural gas storage withdrawals spiked, and production crashed.  Both conditions have abated over the last few days.

Production was just under 11 BCF yesterday, after falling below 10 BCF last week.  It should return to a potential of 11.3 BCFD or higher if no other weather related events prevent it.  Last December averaged 11.2 BCFD, and this December it has been 10.6 month-to-date.

Reported storage injection and withdrawal activity for the calendar year on the TC Nova system shows that last year, a net 86 BCF was injected, while this year, it currently stands at just 8.9 BCF, with twelve days remaining in the month and year:

 The daily storage draws have been monumental this month, far exceeding anything seen in the previous year.  A net 7 BCF was withdrawn from storage last December, and TC Nova has already reported 39 BCF withdrawn through December 19th: