February 27, 2012 / 6:44 PM / in 6 years

Canadian spot gas rises on cold western weather

* AECO up C$0.03 at C$2.03/GJ
    * Export prices mixed

    CALGARY, Alberta, Feb 27 (Reuters) - Canadian spot
natural gas prices rose on Monday on cold western weather and
tight short-term supply in Alberta.	
    Spot gas at the AECO storage hub in southeastern Alberta
rose 3 Canadian cents from Friday to average C$2.03 a gigajoule.
Deals were done between C$1.96 and C$2.09 a GJ.	
    Environment Canada said low temperatures in Toronto will be
above normal for most of the next six days. Southern Alberta
temperatures are forecast to stay below normal until Saturday.	
    AccuWeather.com expects temperatures in the U.S. Northeast
and Midwest, key gas-consuming regions, to mostly average above
normal for the next week.	
    Alberta's main pipeline system ran at 16.08 billion cubic
feet, 744 mmcf under operator TransCanada Corp's target
line pack.     	
    Producers delivered 10.42 bcf into the system and a net 896
million cubic feet was withdrawn from storage facilities in the
    Export prices were mixed. Spot gas at Niagara, for shipment
into the U.S. Northeast, slipped a penny from Friday to average
$2.99 per mmBtu.         	
    Spot gas at Huntingdon-Sumas on the British
Columbia-Washington border averaged $2.75 per mmBtu, up 2 cents.	
    ($1=$1 Canadian)	
 AECO Forwards:    2/27/12          2/24/12
 Bal. February     C$1.94-1.99      C$1.97-2.02
 March             C$1.91-1.96      C$1.92-1.97
 Nov.'12-Oct.'13   C$3.00-3.05      C$3.04-3.09
 (Reporting by Scott Haggett; Editing by Peter Galloway)

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