Canadian natural gas producers and pipelines are reviewing spending plans and market strategies in the face of weak prices and a supply surplus.(82219 bytes) A warm winter in most of North America and capacity limitations on export pipelines to U.S. markets have added to industry problems. The retrenchment from strong prices in 1993 and 1994 has spawned some shut-ins, project delays, a decline in lease sales and a second look at capital budgets by a number of firms. Industry analysts generally concur that the soft price scenario afflicting North American-and particularly Canadian-gas producers is part of a normal cycle i...

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