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Msg  3593 of 3864  at  8/9/2019 7:41:56 AM  by

ffrvp97


Gas producers waiting for UCP action to revitalize slumping sector

“We have a provincial government that is quite keen to fix this AECO problem and the price swings,” Peyto CEO Darren Gee said Thursday on a second-quarter earnings call.
 

“There is clearly a recognition from the new government that the Alberta gas industry can play a pretty significant role in the overall health of the province,” Hodge said in an interview.

“And we’re going through a really rough patch here.”

“There are some real concerns here that things need to get better — and soon.”

Alberta’s Associate Natural Gas Minister Dale Nally held meetings last month with a group of five producers — including Peyto — on issues facing the industry and possible solutions.

The province took its first step to addressing some of the nagging problems last month, vowing to provide relief to gas producers from overvalued municipal tax assessments.

A bigger challenge is solving the pricing dilemma and transportation constraints.

One proposal floated by some producers who met with Nally would see the province provide royalty credits to companies that voluntarily throttle back gas output during periods of maintenance on the Nova Gas Transmission Ltd. (NGTL) pipeline network.

The province has looked for solutions to the pricing volatility in the wake of a report late last year by its natural gas advisory panel that examined ways to revive the industry.

A bigger challenge is solving the pricing dilemma and transportation constraints.

One proposal floated by some producers who met with Nally would see the province provide royalty credits to companies that voluntarily throttle back gas output during periods of maintenance on the Nova Gas Transmission Ltd. (NGTL) pipeline network.

The province has looked for solutions to the pricing volatility in the wake of a report late last year by its natural gas advisory panel that examined ways to revive the industry.

“We wait to see what kind of solutions they want to propose,” he said.

“They have a whole laundry list of things they were looking at to help fix the natural gas situation and market disconnection in Alberta.”

Nally was not available for an interview Thursday but issued a statement that the government is examining the various issues.

“We are looking at several possible actions to minimize price volatility and restore confidence in our natural gas sector,” he said, adding the producer group’s proposal warrants consideration."

 
 


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