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Projects by Canada’s second largest oilsands producer Suncor Energy Inc. and MEG Energy Corp. are supporting growth for Canadian natural gas use and driving pipeline additions by TC Energy Corp.’s gathering and delivery grid in Alberta and British Columbia, Nova Gas Transmission Ltd.

Henry Hub natural gas prices may average under $2/MMBtu next year as a result of booming production, swiftly growing stockpiles and only seasonal demand from exports, according to IHS Markit’s Samuel Andrus, executive director of North American natural gas.

With another hefty weekly inventory build expected this week, and with analysts pointing to a possible end to the recent short-covering rally, natural gas futures declined at the front of the curve for a second straight session Wednesday. The October Nymex contract settled 2.8 cents lower at $2.552/MMBtu, while November dropped 3.1 cents to $2.589.

With forecasts dropping demand from the outlook overnight, and with another above-average weekly storage injection likely in the offing, natural gas futures were trading lower early Thursday. The October Nymex futures contract was down 2.7 cents to $2.525/MMBtu at around 8:40 a.m. ET.

California regulators on Tuesday requested more technical information from Chevron Corp. on the Cymric oilfield cyclic steam operations in Kern County, which is being investigated for a leaking...


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