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Analyst Sees Volatile Future for North American Gas Prices, Upgrades Most Impacted Stock

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Scotiabank analyst Cameron Bean changed the rating for a few North American Natural Gas companies following their revised forecasts about commodity price deck and industry outlook.

The analyst continues to expect congestion and low prices to prevail into the summer but sees green shoots on the horizon, with weaker U.S. production volumes in H2 FY24 and the commissioning of new North American LNG export facilities in late 2024 and 2025.

Bean continues to project a price of $4.00/mmBtu but expects significant price volatility as North America adds considerable new LNG export capacity over the next three to five years. 

Also, the analyst expects a rougher ride for AECO prices, with potential carnage during the summer, but anticipates the startup of LNG …

Full story available on Benzinga.com

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