April 5, 2012 / 9:48 PM / 5 years ago

Canadian spot gas dips on large storage build

CALGARY, Alberta (Reuters) - Canadian spot natural gas prices dipped on Thursday as U.S. data showed a larger-than-expected build in storage volumes.

Spot gas at the AECO storage hub in southeastern Alberta slipped 1 Canadian cent to average C$1.70 a gigajoule. Deals were done between C$1.66 and C$1.74 a GJ.

The U.S. Energy Information Administration said inventories in the United States rose by 42 billion cubic feet last week, compared with a Reuters survey estimate for 34 bcf.

Canadian storage volumes rose 0.5 percent to 492.5 bcf. Canadian Enerdata said facilities across the country were 69.5 percent full on average, compared with just 26.9 percent 12 months earlier.

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For the NYMEX natural gas report click on <NGA/>

For the U.S. spot natural gas report click on <NGA/US>

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Environment Canada said low temperatures in Toronto will be close to normal or slightly warmer over most of the next week. Southern Alberta lows are expected to be colder than average through Monday.

Alberta’s main pipeline system ran at 16.7 billion cubic feet, 80 million cubic feet below operator TransCanada Corp’s (TRP.TO) target line pack.

Producers delivered 10.2 bcf into the system and a net 514 mmcf was injected into storage facilities in the province.

Export prices were lower. Spot gas at Niagara, for shipment into the U.S. Northeast, fell 8 cents to average $2.42 per mmBtu.

Spot gas at Huntingdon-Sumas on the British Columbia-Washington border averaged $2.03 per mmBtu, down 6 cents.

Reporting by Jeffrey Jones; Editing by Bob Burgdorfer

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