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This week on the podcast, our guest is Dulles Wang, Director of Americas Gas and LNG Research at Wood Mackenzie. Dulles co-authored the report Defying Gravity: Why U.S. Henry Hub Natural Gas Prices Are Set to Rise. He is also bullish on the longer-term outlook for Alberta natural gas prices (AECO).
The report comes as natural gas prices in the United States and Canada are depressed by abundant supply, especially in Canada, combined with an outlook for very warm winter weather.
Here are some of the questions Jackie and Peter asked Dulles: After years of low natural gas prices and abundant supply, why do you expect prices to rise? Is there a risk that supply could surprise again and continue growing fast enough to keep pace with demand growth, despite low prices? How do warmer winters affect the outlook, given that they appear to be becoming more common, including expectations for this upcoming winter? What is your outlook for Alberta natural gas prices and Canadian LNG exports? This has been a big year for M&A involving U.S. shale gas assets, with a new group of buyers that includes Abu Dhabi’s ADNOC, Saudi Aramco, and Japanese companies. What is driving this trend, and do you expect it to come to Canada?
Content referenced in this podcast:
- Mark Carney Forward Guidance: A Stronger Canada video (September 8, 2026) Wood Mackenzie report, Defying gravity: Why US Henry Hub natural gas prices are set to rise (July 2026) FT article, Scramble for gas assets pushes dealmaking to a decade high (August 30, 2026)
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