Canadian Inventories Decline 13.4% in January

Canadian underground propane inventories fell 13.4% in January to post a monthly loss of 225.5 Mcm, accord­ing to the National Energy Board (NEB). As of Feb. 1, stocks stood at 1461.2 Mcm, the equivalent of 9.2 MMbbl. January’s decline followed volumes dropping 11.8% in December. Compared to a year earlier, however, supplies as of the beginning of February were a significant 274.1%, or 1070.6 Mcm, higher.

Propane storages in the West were down 10.6%, or by 104.5 Mcm, and began the new month at 885.7 Mcm, or 5.6 MMbbl. That level represented a gain of 310.6%, or 670.0 Mcm, from the previous year. In the East inventories fell a steeper 17.4%, or 121.0 Mcm, and as of Feb. 1 they were at 575.4 Mcm, or 3.6 MMbbl. Eastern stocks were up 229.0%, or 400.5 Mcm, from Feb. 1, 2014.

Canadian butane stocks began February at 551.9 Mcm, and lost 17.1%, or 113.6 Mcm, during January. Com­pared to the prior year, butane stood 20.6% higher, or by 94.2 Mcm. Western butane ended January at 302.8 Mcm, down 8.1%, or 26.6 Mcm, month over month. Eastern supplies, at 249.1 Mcm, dropped a sharper 25.9%, or 87.0 Mcm. A year-over-year comparison showed butane in the West off 7.3%, or 23.8 Mcm, while in the East inventories were up 90.0%, or 118.0 Mcm.