Gas price strength spawns Canadian innovations

08/21/2000
Strength in natural gas prices is spawning innovative strategies in Canada.Canadian Hunter Exploration Ltd., Calgary, has bought its way out of a prepaid natural gas supply contract it signed in 1991, in order to take advantage of today's higher gas prices.Meanwhile, Pacific Northern Gas Ltd. (PNG), Vancouver, BC, has offered to reduce the transportation toll charged to Vancouver-based Methanex Corp. on natural gas feed to Methanex's Kitimat, BC, methanol plant. Poor economics had prompted Methanex to close the plant (OGJ Online, July 7, 2000, and OGJ, July 5, 1999, Newsletter).Canadian HunterCanadian Hunter paid $103 million to get out of having to deliver 65 trillion btu of gas ...
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