Weak Alberta Gas Prices To Hurt Producer, Provincial Revenues
Once the maintenance is complete capacity on the northwest part of the NGTL system will increase by 700 million cubic feet a day, adding 6 percent to the entire network and helping alleviate the bottleneck.
However BMO analysts expect prices to remain under pressure as western Canadian production grows from 15.8 billion cubic feet a day (Bcf/d)in 2017 to 18.7 Bcf/d in 2019.
"The resulting structural imbalance could place downward pressure on Western Canadian natural gas prices through 2019," analyst Randy Ollenberger said in a note.
(Reporting by Nia Williams; Editing by Susan Thomas)
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