Natural gas big winner as energy prices soar

CALGARY — As Canada’s largest energy companies get set to release record-shattering fourth quarter and year-end results, the biggest profits are expected to come from the natural gas producers.

In the fourth quarter, natural gas prices soared to an average of $12.30 US a thousand cubic feet, almost double the price in the same quarter of 2004.
“The real big win is on gas, for sure,” said Martin Molyneaux, an energy analyst with Calgary-based FirstEnergy Capital.

“It’s the first time ever where we’ve seen a single quarter where (the market price) averaged double digits. And I think that’s going to be the big shocker when people start seeing the press releases rolling out here in a couple weeks’ time.”

London Free Press