Canada's natural gas industry is in a "holding pattern" as low prices of around $3.00/MMBtu in Western Canada are stifling new equity investment for gas producers, a report by Canada's National Energy Board (NEB) finds. Low gas prices have displaced "significant amounts" of coal-fired in favour of gas-fired generation but it is unclear if demand can be retained long enough to move prices into the $5.00/MMBtu level necessary to resume substantial investment in dry natural gas drilling.
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