# Canadian natural gas firms eager for LNG boom swamp market with excess supply

> Gas prices at Alberta's AECO hub fell to a two-year low of 5 Canadian cents per mmBtu in late September as storage filled. The slump has hurt producers who expanded drilling in anticipation of LNG Canada demand, and some have curtailed output. The oversupply reflects weak local demand ahead of new LNG exports.

- Date: 2024-10-11 · published 2024-10-11T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/28060-canadian-natural-gas-firms-eager-for-lng-boom-swamp-market-with-excess-supply
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Very weak Canadian gas prices lower energy costs for Canadian processors and fertilizer plants. The oversupply signals that new LNG demand has not yet absorbed production.

## Read by commodity

- NATGAS: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/business/energy/canadian-natural-gas-firms-eager-lng-boom-swamp-market-with-excess-supply-2024-10-11/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.