Natural Gas Prices Plummet in Western Canada

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(Bloomberg) — Natural gas prices in Western Canada continued their freefall amid restrictions on the area’s main pipeline network and as Enbridge Inc. targeted a mid-November restart for a ruptured pipe that cut off supplies to businesses, homes and oil refineries.

Gas at Alberta’s pricing hub dropped to a five-month low on Friday, according to data compiled by Bloomberg. The Nova Gas Transmission Ltd. system currently isn’t allowing interruptible service at its Upstream James River receipt area, or at its East Gate and West Gate delivery areas, according to a notice posted online. The network connects to the damaged Enbridge line through another system.

Enbridge said in an update that it expects the 36-inch (91-centimeter) pipeline that burst two weeks ago to be operating at 80 percent of its capacity when it returns to service next month. In the meantime, the company will continue pumping gas through a smaller line that’s in the same right of way as the pipe that burst.

Read more at : https://www.investing.com/news/commodities-news/natural-gas-prices-plummetin-western-canada-1654320

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