Canadian Inventories Down from December to January

Canada’s primary underground propane inventories decreased by 16.13% in January, according to the Canada Energy Regulator (CER). The total represented a month-to-month decrease of 293.8 Mcm. Compared to a year earlier, stocks were lower, with 516.8 Mcm, or 25.27%, less product on hand. 

Propane storages in the West started January a bit lower at 799.8 Mcm, which corresponds to 5.039 MMbbl, the agency reported. From December to January, volumes decreased by 127.8 Mcm, or -13.78%, and were 383.8 less the year prior’s level of 1183.6 Mcm.  Propane storages in the East started January lower at 728.2, commensurate with 4.588 MMbbl. This loss put propane 166 Mcm, or -18.56%, lower for the month, with a decrease of 132.9, or -15.43% below a year earlier. 

Canadian butane inventories stood at 706.5 Mcm at the beginning of January, for a decrease of 112.8 Mcm, or 13.77%, from December. Like propane, the year-over-year comparison finds butane volumes to be lower than the prior year’s total, with inventories 356.6 Mcm, or 33.54%, below 2020. Western butane supplies, at 490.2 Mcm, were lower by 26.4 Mcm, or 5.11%, from the previous months and were 297.4Mcm, or 37.76%, less than last year. Eastern butane, at 216.2Mcm, was 86.6Mcm, or -28.60%, lower month over month, and totaled 59.4Mcm, or -21.55%, below a year earlier.