Canadian Gas Exports Decline as LNG Imports to the United States Soar
Posted on Oct 16, 2007 in Canada & Mexico, Markets and Competition | Comments Off on Canadian Gas Exports Decline as LNG Imports to the United States Soar
Calling this year’s surge in U.S. LNG imports a temporary phenomenon, Greg Stringham of the Canadian Association of Petroleum Producers told the Globe and Mail, “This is the first inkling we’ve seen of international competition in natural gas coming in and filling up [U.S.] storage and backing Canadian gas into storage here, and causing the depressed prices to be in place.” However, an analyst with Cambridge Energy Research Associates said that the increase in U.S. LNG imports was spurred by falling natural gas production in Canada.