Pennant Energy Inc PENFF

RE: Nat gas

[wintersun10]

Canadian spot gas skids on waning demand

 

 

Fri Sep 28, 2012 2:08pm EDT

* AECO down C$0.29 at C$2.04/GJ    * Export prices mixed    CALGARY, Alberta, Sept 28 (Reuters) - Canadian spot naturalgas prices tumbled on Friday on lower weekend demand andforecasts calling for mild temperatures in big Eastern marketsover the next week.    Spot gas at the AECO storage hub in southeastern Albertafell 29 cents Canadian cents to average C$2.04 a gigajoule.Deals were done between C$1.95 and C$2.20 a GJ.    Low temperatures in Toronto, Canada's largest market, willrun a degree or two on either side of normal over the next sixdays, Environment Canada said. Southern Alberta is forecast tobe warmer than normal through Monday, then fall to a low of justunder the freezing mark by Thursday.       Alberta's main pipeline system ran at 16 billion cubic feet,265 million cubic feet under TransCanada Corp's targetline pack. Producers delivered 9.6 bcf into the system and a net312 mmcf was placed into st o rage facilities in the province.    Export prices were mixed. Spot gas at Niagara, for shipmentinto the U.S. Northeast, rose 12 cents to average $3.35 permmBtu.             Spot gas at Huntingdon-Sumas on the BritishColumbia-Washington border averaged $2.70 per mmBtu, down 22cents.     ($1=$0.98 Canadian)     AECO Forwards:    9/28/12          9/27/12 bal. September    C$2.00-2.05      C$2.27-2.32 October           C$2.44-2.49      C$2.48-2.53 Nov.'12-Oct.'13   C$3.07-3.12      C$3.06-3.11  (Reporting by Jeffrey Jones;Editing by Sofina Mirza-Reid)