Dan,
Historically, it would appear that net Canadian imports average around 6 BCF per day, and exports of natural gas via pipeline to Mexico are about this same amount, so basically a wash.
I'm seeing where Canadian Natural Gas imports jumped 3 BCF this week. What's the story? Do they have this much capacity to export to us, if if so, why haven't they been doing this before?
Freeport is around 2 BCF once started back up, but if Canada is sending us 3 BCF more, won't that depress our prices? This seems like it "came out of the blue."
Canadian Natural Gas
Re: Canadian Natural Gas
We also export gas to eastern Canada, which offsets much of the import from western Canada. Think Canada+US as one region.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Canadian Natural Gas
Yep, I understand that we export to them, which is why I put “net” of 6 BCF inbound from Canada historically, but it jumped 3 BCF in one week, which is both material and highly unusual. Wondered if you knew what the deal was?
Re: Canadian Natural Gas
Super cold up north so we just needed more gas in the region south of Alberta is my guess. Also, spot market prices in the Northwest spiked to over $20/MMBtu, so they were taking gas from any company that could get it into Washington or Montana.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group