Q: Hi 5i
1) What portion of NG is sold to USA versus LNG Canada (soon) and domestic consumption? 2) Canadian oil sands withstood negative oil prices for months - but it still flowed (and hence required condensate) - to what extent do you think Condensate (ARX/TOU) will be affected if there is reduced oil flow from Canadian oil sands. Thank you.
Glenn
1) What portion of NG is sold to USA versus LNG Canada (soon) and domestic consumption? 2) Canadian oil sands withstood negative oil prices for months - but it still flowed (and hence required condensate) - to what extent do you think Condensate (ARX/TOU) will be affected if there is reduced oil flow from Canadian oil sands. Thank you.
Glenn
5i Research Answer:
2024 data is not available yet, but in 2023 45% of Canadian NG went to the USA. LNG Canada starts this year but we do not have a breakdown of percentage there. ARX/TOU are potentially vulnerable to reduced oil sands flow, but from what we have read here it would not likely be to a material amount. This can be debated and will vary based on other pipeline takeaway capacity at the time of any reduced oil sands flow.