Canadian Gas Floods Northeastern US, Priced Below Russian Imports
Gas prices in the northeastern United States have plummeted to levels cheaper than those in Russia. According to data from the US Department of Energy (EIA), this is largely due to record supplies of natural gas from Canada, which has been delivered through pipeline connections linking Appalachia with the Northeast.
The EIA reports that from April to July, gas prices in New England were on average $27 per thousand cubic meters cheaper than in the widely used American benchmark, the Henry Hub. This year, New England has received record volumes of natural gas imports from Canada, with deliveries more than 2.5 times higher than in the same period last year.
The current wholesale price of gas in New England is $53 per thousand cubic meters, while the lowest stock quotes for Russia's Sverdlovsk region exceed 8.2 thousand rubles ($98) per thousand cubic meters.