This time last year, the financial markets were showing some concern about the evolution of natural gas prices. A warmer summer in 2018 created higher demand for natural gas to meet the air conditioning needs of our neighbours to the south, which helped drive up the prices and substantially reduce the growth of natural gas storage levels in the United States. Yet, high levels of storage are needed during winter times when natural gas demand exceeds the supply. Given this situation, the futures prices for the winter months gradually increased as winter drew closer.
On July 10, 2019, the Régie de l’énergie approved, via decision D-2019-080, the investment project to supply natural gas to a new Kruger Tissue Plant in Sherbrooke.The project will enable Énergir to supply the new Kruger plant with natural gas for its paper production needs. This new project, whose costs are estimated at $4.5M, will foster the region’s economic development. The work to connect the plant should be completed by September 2020.