Overview

• Daily AECO spot prices averaged minus $0.05 per MMBtu on Thursday after touching a record low of minus $0.18 earlier in the week, according to LSEG data.
• Producers are temporarily shutting in wells to avoid paying to move surplus gas, with RBN Energy noting cuts are underway and could extend through the month.
• Advantage Energy said its current curtailments are the most aggressive it has ever enacted as CEO Mike Belenkie cited the worst sustained prices the company has seen.
• Jefferies reports Western Canadian gas storage remains near last year’s record highs after elevated output anticipated LNG export demand.
• Maintenance and constraints on TC Energy’s NGTL and the Great Lakes system are restricting egress from Alberta, while LNG Canada’s gradual startup has not yet absorbed the surplus.