Friday, January 27, 2017

Alberta Natural Gas Production Recovers, But Storage Falls Faster Than Last Winter

By this date in January last year, 21 BCF had been withdrawn from storage on the TC Nova system.  This year, 31.5 BCF has been removed.  In part that can be explained by weather, but it's also partially due to production shortfalls early this month.  

Daily production dipped to about 10.6 BCFD on the 11th, and has been recovering since.  In the recent week, receipts were comparable to last year, and brought the month's average up above 11 BCFD, which is 200 MMCFD below last year's average for January.  That gap should close further in the last few days of January, but production must increase further to keep pace with last year's 11.4 BCFD average for February: