OUTLOOK
SaskEnergy continues to focus on the impacts of the COVID-19 pandemic, promoting and maintaining the health and safety of the Corporation’s personnel and the public while maintaining its ability to deliver core services. In addition to the pandemic, the volatility of global oil prices continues to create uncertainty for producers and consumers of natural gas. Over 70 per cent of the production of natural gas in Saskatchewan is associated with oil production; hence, as oil producers were forced to shut-in wells due to record low oil prices, associated natural gas production was also shut-in. The reduction in Saskatchewan gas supply will require more natural gas to be imported from Alberta. Changing customer demand, global supply chain disruptions, and social distancing requirements have caused challenges and delays to system improvement projects, but have not impacted the Corporation’s ability to transport or market natural gas. SaskEnergy will continue to monitor and manage the impact of both COVID-19 and the volatility of oil prices on its business strategies as both situations evolve.
2020-21 Second Quarter Report
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