Birchcliff Energy Ltd T.BIR

Midwest market driving Canadian export increase

[fergus2]

Canadian Observer (Weekly) - Midwest market driving Canadian export increase

Canadian exports into the US are up 0.7 Bcf/d from last week to stand at an average of 5.8 Bcf/d. This is the largest export value during this ...period since 2009 when average exports reached 5.6 Bcf/d. Week-over-week, the largest change has occurred in the PNW and Northeast, where imports have increased by 0.2 Bcf/d and 0.5 Bcf/d, respectively. However, net exports into the Midwest region have climbed to a weekly average of 2.3 Bcf/d, a total that has not occurred during this period since 2008. Viking pipeline has imported an average of 0.3 Bcf/d, which is an increase of 88% compared to this period last year. Demand in the Midwest is up roughly 4.4 Bcf/d week-over-week and as a result, 65% of the supplies from Canada have stayed in the region for this demand increase. AECO Cash basis has not had any upward pressure this past week, averaging ($0.43). However, if the current trend continues into next week, basis will gain support.less