Canadian Inventories Decline, But Remain Strong

Canada’s primary underground propane inventories fell by 27.3% in March, according to the Canada Energy Regulator (CER). The total represented a month-to-month decrease of 313.9 Mcm. Compared to a year earlier, stocks were higher, with 424.1 Mcm, or 102.8%, more product on hand.

Propane storages in the West started April a bit lower at 524.3 Mcm, which corresponds to 3.3 MMbbl, the agency reported. During March, volumes decreased by 137.8 Mcm, or 20.8%, but they remained well above the year prior’s level of 286.0 Mcm, for a year-over-year gain of 238.3 Mcm, or 83.3%. In the East, supplies began the month of April at 312.2 Mcm, commensurate with 2.0 MMbbl. This loss put propane 176.1 Mcm, or 36.1%, lower for the month, but a major increase of 185.8 Mcm, or 147.1%, above a year earlier.

Canadian butane inventories stood at 638.9 Mcm at the beginning of April, for a loss of 16.7 Mcm, or 2.6%, from March. Like propane, the year-over-year comparison finds butane volumes to be higher than the prior year’s total, with inventories 284.9 Mcm, or a strong 80.5%, above 2020. Western butane supplies, at 502.2 Mcm, were off by 12.6 Mcm, or 2.4%, from the previous month, but were 237.1 Mcm, or an incredible 89.4%, higher than last year. Eastern butane, at 136.6 Mcm, was down 4.2 Mcm, or 3.0%, month over month, but totaled 47.7 Mcm, or 53.7%, above a year earlier.

Found in: The Weekly Propane Newsletter, April 22, 2021. Weekly Propane Newsletter subscribers receive all the latest posted and spot prices from major terminals and refineries around the U.S. delivered to inboxes every week. Receive a center spread of posted prices with hundreds of postings updated each week, along with market analysis, insightful commentary, and much more not found elsewhere.

Source for numbers: https://www.cer-rec.gc.ca/en/data-analysis/energy-commodities/natural-gas-liquids/statistics/liquefied-petroleum-gas-lpg-statistics.html