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CANADIAN GAS EXPORTS LOG A RECORD IN '93

Feb. 28, 1994

Exports of Canadian gas attained a sixth consecutive record year in 1993, Canadian Enerdata Ltd. reports. The Ontario firm estimates gas exports for the year at 2.248 tcf, a gain of 10% from 1942's level. That compares with a surge of 21.7% to 2.043 tcf in 1992 from 1.679 tcf in 1991. Exports accounted for about 31.5% of all Canadian gas sales in 1993. That compares with 50.7% in 1992, 46.5% in 1991, and only 30.2% in 1986. Total Canadian gas sales were about 4.38 tcf in 1993, up from 4.027

Exports of Canadian gas attained a sixth consecutive record year in 1993, Canadian Enerdata Ltd. reports.

The Ontario firm estimates gas exports for the year at 2.248 tcf, a gain of 10% from 1942's level. That compares with a surge of 21.7% to 2.043 tcf in 1992 from 1.679 tcf in 1991.

Exports accounted for about 31.5% of all Canadian gas sales in 1993. That compares with 50.7% in 1992, 46.5% in 1991, and only 30.2% in 1986. Total Canadian gas sales were about 4.38 tcf in 1993, up from 4.027 tcf in 1992.

Domestic sales of Canadian gas in 1993 outpaced the prior year's increase. Domestic sales jumped 7.2% in 1993 from 1992's level vs, an increase of 2.8% in 1992 from 1991's level. Direct sales to industrial customers led the growth in 1993, rising 10% from 1992 levels. That compares with increases of 8% in residential gas sales and 4% each in commercial and utility sales.

Canadian Enerdata predicts gas will remain priced below oil on a BTU equivalent basis to 1995. During 19952000, gas prices will rise to parity with oil. After 2000, gas prices will exceed the BTU equivalent price for oil.

In its most likely scenario, Canadian Enerdata sees the Alberta border price continuing to climb-after rising to $2.15 (Canadian)/Mcf in 1993 from $1.56/Mcf in 1992-to $2.82 in 1995, propelled by surging U.S. demand for Canadian gas.