Canadian Inventories Decrease from November to December 2022

Canada’s primary underground propane inventories decreased by 8.73% in December, according to the Canada Energy Regulator. The total, 1679.1 Mcm, represented a month-to-month decrease of 160.6 Mcm. Compared to a year earlier, stocks were lower, with 323.1 Mcm, or 16.14%, less product on hand. 

Propane storages in the West started December a bit lower at 995.2 Mcm, which corresponds to 6.27 MMbbl, the agency reported. From November to December, volumes decreased by 202.4 Mcm, or -16.90%, and were 8.3 less than the year prior’s level of 1003.5 Mcm.   

Propane storages in the East started December higher at 683.9, commensurate with 4.3086 MMbbl. This gain put propane 41.8 Mcm, or 6.51%, higher for the month, with a decrease of 314.9, or 31.53% below a year earlier. 

Canadian butane inventories stood at 1129.6 Mcm at the beginning of December, for a decrease of 181.7 Mcm, or 13.86%, from November. Like propane, the year-over-year comparison finds butane volumes to be higher than the prior year’s total, with inventories 243.9 Mcm, or 27.54%, above 2021.  

Western butane supplies, at 666.8 Mcm, were lower by 11.2 Mcm, or 1.65%, from the previous months and were 172.6 Mcm, or 34.93%, more than last year. Eastern butane, at 462.9 Mcm, was 170.3 Mcm, or -26.90%, lower month over month, and totaled 71.3 Mcm, or 18.21%, above a year earlier. 

Source: Canada Energy Regulator