Canadian Inventories Decrease from December to January

Canada’s primary underground propane inventories decreased by 9.39% in January, according to the Canada Energy Regulator (CER). The total represented a month-to-month decrease of 158 Mcm. Compared to a year earlier, stocks were lower, with 3 Mcm, or 0.20%, less product on hand. 

Propane storages in the West started January a bit lower at 848.6 Mcm, which corresponds to 5.346 MMbbl, the agency reported. From December to January, volumes decreased by 146.6 Mcm, or 14.73%, and were 48.8 more than the year prior’s level of 799.8 Mcm.   

Propane storages in the East started January lower at 676.4, commensurate with 4.261 MMbbl. This loss put propane 11.4 Mcm, or 1.66%, lower for the month, with a decrease of 51.8, or 7.11% below a year earlier. 

Canadian butane inventories stood at 953.4 Mcm at the beginning of January, for a decrease of 176.2 Mcm, or 15.60%, from December. Like propane, the year-over-year comparison finds butane volumes to be higher than the prior year’s total, with inventories 246.9 Mcm, or 34.95%, above 2022.  

Western butane supplies, at 572.4 Mcm, were lower by 94.4 Mcm, or 14.16%, than the previous month’s and were 82.2 Mcm, or 16.77%, more than last year. Eastern butane, at 381.1 Mcm, was 81.8 Mcm, or 17.67%, lower month over month, and totaled 164.9 Mcm, or 76.27%, above a year earlier. 

Source: Canada Energy Regulator