Canadian Inventories Decrease from February to March 2022

Canada’s primary underground propane inventories decreased by 43.27% in March, Canada Energy Regulator (CER). The total represented a month-to-month decrease of 457.8 Mcm. Compared to 2021, stocks were lower, with 550.2 Mcm, or 47.83%, less product on hand. 

Propane storages in the West started March a bit lower at 439.4 Mcm, which corresponds to 2.768 MMbbl, the agency reported. From February to March, volumes decreased by 178.7 Mcm, or 28.91%, and were 222.7 less the year prior’s level of 662.1 Mcm. Propane storages in the East started March lower at 160.8, commensurate with 1.013 MMbbl. This loss put propane 279.1 Mcm, or 63.45%, lower for the month, with a decrease of 327.5, or 67.07% below a year earlier. 

Canadian butane inventories stood at 466.6 Mcm at the beginning of March, for a decrease of 131.2 Mcm, or 21.95%, from February. Like propane, the year-over-year comparison finds butane volumes to be lower than the prior year’s total, with inventories 189 Mcm, or 28.83%, below 2021. Western butane supplies, at 395.6 Mcm, were lower by 59.8 Mcm, or 13.13%, from the previous months and were 119.2 Mcm, or 23.15%, less than last year. Eastern butane, at 71 Mcm, was 71.4 Mcm, or 50.14%, lower month over month, and totaled 69.8 Mcm, or 49.57%, below a year earlier. 

Source: Canada Energy Regulator