Birchcliff Energy Ltd T.BIR

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[fergus2]

Canadian Observer - West Canada outflows and higher demand lead to large storage withdrawals

Large storage withdrawals have helped lower total inventory in western Canada to 406 Bcf, which is roughly 55 Bcf below the five year average ...for this period in the season. Month-to-date storage withdrawals have averaged 3.6 Bcf/d, compared to 1.6 Bcf/d during the same period in 2012. Over the past five years, storage withdrawals in western Canada have averaged 2.0 Bcf/d. Total demand in western Canada is up from a December average of 7.0 Bcf/d last year to 7.3 Bcf/d this year. Furthermore, outflows into the Midcon market and into the West are higher than last year, and outflows on the TC Mainline at Empress are also above last year. Outflows into the Midcon have increased from an average 3.5 Bcf/d last year to 3.8 Bcf/d this year. Outflows into the West have averaged a full 1.0 Bcf/d higher than in 2012, posting a December average of 3.1 Bcf/d for this year. Finally, outflows at Empress on the TC Mainline are up, averaging 2.9 Bcf/d in 2013, compared to 2.3 Bcf/d last year. Including total domestic demand and total outflows from West Canada, total demand in the western region is up 2.2 Bcf/d in December, which is why storage inventory is below the five-year average.less

12/30/2013 | 6:07 AM