Record high Canadian gas exports to US Pacific Northwest weaken regional hubs

摘要

Record volumes of Canadian natural gas flowing into the US PacificNorthwest combined with strong local hydroelectric output weakenedregional pricing hubs.Price strength observed at the Sumas and Kingsgate hubs throughthe first two months of winter quickly evaporated in January amidincremental length in the region. Sumas basis versus Henry Hubaveraged minus 8 cents/MMBtu this month, roughly 33 cents weakerthan a year ago and a decrease of about 75 cents from basis observedbetween November and December.