Monday, February 04, 2013
Natural gas prices will stay stable in a low range for the next five years across North America, and Canadian producers will suffer the most, the Calgary capital of the western industry heard last week.
"Growth in gas demand is not robust enough to keep pace with supply," said Bentek Energy LLC's Rick Margolin, manager of west gas fundamentals group. The glut will continue undermining the long-standing mainstay of Canadian suppliers, exports to the United States, he said.
Bentek's 2013 North American gas forecast includes a drop in Canadian sales to the United States down to 5.4 Bcf/d, a volume 37% below pipeline exports of 8.6 Bcf/d five years ago in 2007.
"Unfortunately for Canadian suppliers, we really don't see this trend reversing," Margolin said at a symposium CI Energy Group.
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