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Friday, January 13, 2012

Canadian natural gas prices january 13 2012

Canadian natural gas prices january 13 2012 : Canadian natural gas declined amid mild U.S. weather that has cut the need for furnace fuels. Alberta gas fell 0.1 percent. Highs in Chicago will touch 41 degrees Fahrenheit (5 Celsius) Jan. 16, 11 degrees higher than normal, according to State College, Pennsylvania-based AccuWeather Inc. The U.S. Midwest is the biggest market for Canada’s gas exports.

“There’s no sustained cold in the weather outlook,” said Brad Florer, a trader with Kottke Associates in Chicago. “The pressure remains on gas prices.”

Alberta gas for February delivery fell 0.25 cent to C$2.465 a gigajoule ($2.28 per million British thermal units) at 12:01 p.m. New York time on NGX, a Canadian Internet market.

Gas traded on the exchange is shipped to users in Canada and the U.S. and priced on TransCanada Corp.’s Alberta system.

Natural gas for February delivery on the New York Mercantile Exchange fell 3.2 cents, or 1.2 percent, to $2.665 per million Btu as of 12:09 p.m.

Volume on TransCanada’s Alberta system, which collects the output of most of the nation’s gas wells, was 17.5 billion cubic feet, 707 million above target.

Gas was flowing at a daily rate of 3.15 billion cubic feet at Empress, Alberta. The fuel is transferred to TransCanada’s main line at Empress.

At McNeil, Saskatchewan, where gas is transferred to the Northern Border Pipeline for shipment to the Chicago area, the daily flow rate was 2.15 billion cubic feet.

Available capacity on TransCanada’s British Columbia system at Kingsgate was 890 million cubic feet. The system was forecast to carry 1.76 billion cubic feet today, or 66 percent of its capacity of 2.65 billion.

The volume on Spectra Energy’s British Columbia system, which gathers the fuel in northeastern British Columbia for delivery to Vancouver and the Pacific Northwest, totaled 2.84 billion cubic feet at 10:50 a.m. For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today

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