DAILY NEWS Mar 25, 2014 8:44 AM - 0 comments

Natural gas extractions up 9.4% in January

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Ottawa - Canada extracted 14.5 billion cubic metres of natural gas in January 2014, up 9.4% from the same month in 2013, Statistics Canada reports. Nova Scotia posted the largest percentage increase, up 235.5% from January 2013 to 355.5 million cubic metres of natural gas.

Overall, national production levels in January were at their highest levels since January 2009 (when they reached 14.6 billion cubic metres).

Colder than normal temperatures pushed total demand on gas utilities up 6.3% to 21.9 billion cubic metres in January. Exports to the United States rose 12.7% to 8.5 billion cubic metres in January.

The largest contributor to the gain in exports was Saskatchewan, which delivered 3.2 billion cubic metres to the United States. However, this was 2.7% less than what was delivered in January 2013.

Canada's imports of natural gas fell 19.6% to 2.5 billion cubic metres from January 2013. Lower imports to New Brunswick (down 57.6% to 182 326 cubic metres) and Ontario (down 6.0% to 2.3 million cubic metres) combined to push down the national totals.

Lower imports of natural gas were offset by higher receipts from storage, which were up 16.2% to 4.8 million cubic metres, led primarily by Ontario, up 16.9% from January 2013 to 4.5 million cubic metres.

The sale of natural gas generated $2.3 billion in revenue in January, up 13.3% compared with January 2013. The gain in revenue was driven by colder temperatures and increased demand, along with higher prices (+6.4%) and larger volumes (+6.5% to 10.7 billion cubic metres) in January. Ontario led the way in increased revenue, with total sales of natural gas up 16.8% from January 2013 to $4.2 billion.

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