HOME PAGE SUBSCRIPTIONS, Print Editions, Newsletter PRODUCTS READ THE PETROLEUM NEWS ARCHIVE! ADVERTISING INFORMATION EVENTS PETROLEUM NEWS BAKKEN MINING NEWS

Providing coverage of Alaska and northern Canada's oil and gas industry
December 2007

Vol. 12, No. 48 Week of December 02, 2007

Canada gas exports defy forecasts

Canadian natural gas shipments to the United States remain doggedly above 2006 levels, despite persistent forecasts of a decline.

For the first eight months of 2007, exports were 2.48 trillion cubic feet, up 130 billion cubic feet from the same period last year, with August posting a 6.6 percent gain to 336.4 bcf, the National Energy Board reported.

Total revenues edged up about C$450 million to C$19.22 billion, although the average export price slipped to C$7.19 per gigajoule from C$7.40.

However, the weakened state of the gas market was evident in August, with revenues down 9.7 percent from a year earlier at C$2.12 billion and average prices off 15 percent at C$5.84 per gigajoule.

In contrast to Canadian exports, the U.S. Energy Information Administration reported that worldwide liquefied natural gas imports to the U.S. slumped in September to 41.7 bcf from 87.5 bcf in August, although the EIA still expects total LNG shipments to rise by 39 percent this year and a further 24 percent in 2008.

The EIA in March forecast a drop of about 2 percent or 180 bcf of pipeline imports from Canada this year.

—Gary Park






Petroleum News - Phone: 1-907 522-9469 - Fax: 1-907 522-9583
[email protected] --- http://www.petroleumnews.com ---
S U B S C R I B E

Copyright Petroleum Newspapers of Alaska, LLC (Petroleum News)(PNA)©2013 All rights reserved. The content of this article and web site may not be copied, replaced, distributed, published, displayed or transferred in any form or by any means except with the prior written permission of Petroleum Newspapers of Alaska, LLC (Petroleum News)(PNA). Copyright infringement is a violation of federal law subject to criminal and civil penalties.