March 1, 2021 – Natural Gas Intelligence
Gains for Texas, Midcon in March Natural Gas Bidweek as Analysts Ponder Mild Temps, Supply Tightness
By Jeremiah Shelor
…Last month, Canada’s natural gas market felt the impacts that resulted from “extreme cold on both sides of the border,” RBN Energy LLC analyst Martin King wrote in a recent blog post.
The “February extremes” helped set new demand records and led to storage withdrawals that reached “never-before-seen levels” as operators worked to balance supply and demand, according to King. Canadian exports to the United States during the cold blast “surged to levels not seen for more than a decade.”
This comes as natural gas demand in Alberta has been on the rise, owing to a combination of consumption from the province’s oilsands and efforts to transition from coal-fired to gas-fired power generation, the analyst said. This lays the groundwork for additional tightness in the market heading into the 2021/22 winter.
“As a result of the additional consumption, Alberta’s average gas demand in 2021 as a whole could be as much as 0.5 Bcf/d, or 9%, higher than in 2020. That means another 0.5 Bcf/d of underlying demand that is going to be there next winter,” King said.
Read the full article here: https://www.naturalgasintel.com/gains-for-texas-midcon-in-march-natural-gas-bidweek-as-analysts-ponder-mild-temps-supply-tightness/
