Cold Start to Heating Season Sends Ontario Gas Storage Below Five-Year Average

Natural gas storage in Canada’s most populous province of Ontario has quickly descended below the five-year range and reached its lowest level for this time of year since 2014 based on data in RBN’s Canadian NatGas Billboard. With a reading of 234 Bcf (blue text and line in chart below) on December 10, the province’s gas storage was 26 Bcf less than a year ago, 26 Bcf less than the five-year average and 23 Bcf below the low end of the five-year range. This is the lowest for Ontario gas storage since 228 Bcf was recorded on the same date in 2014.