Canada’s net imports of gas surge as Dawn shifts to premium over Chicago prices

摘要

Canada’s net export volume of natural gas to the US has fallen near an all-time low as Bakken supply continues to displace gas from Alberta, while East Canada has become more reliant on imports from the US Midwest. Net Canadian exports to the US fell as low as 2.4 Bcf/d last week, their second-lowest mark on record going back to 2005, according to data from S&P Global Platts Analytics. North Dakota’s ever-growing Bakken supply has diminished Alberta’s exports to the US on Northern Border Pipeline. The Bakken's share of the line reached 67% of the pipe’s capacity last month to mark the fifth straight month of market share gains. An unusually strong reliance from the Dawn Hub in Ontario on gas imported from the US Midwest to meet local demand has served as another primary driver behind the weak net exports over the past several weeks.