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CALGARY — As their oil-focused peers languished this year, Canadian natural gas producers enjoyed high commodity prices for the first time in years — and analysts expect a repeat performance in 2021.
Alberta’s natural gas benchmark AECO traded above $3 per gigajoule at the beginning of November but has since slid amid warmer weather in the province and struggled to rise above $2.50 per GJ so far in December — marking a muted end to a year that saw relatively robust activity for a commodity that has languished for much of the last decade. AECO has been trading around $2.26 per GJ on average this year, compared to $1.60 last year.