Canadian Inventories Down from November to December

Canada’s primary underground propane inventories decreased by 9.01% in December, according to Canada Energy Regulator (CER). The total represented a month-to-month decrease of 180.4 Mcm. Compared to a year earlier, stocks were lower, with 485.6 Mcm, or 21.05%, less product on hand. 

Propane storages in the West started December a bit lower at 927.6 Mcm, which corresponds to 5.844 MMbbl, the agency reported. From November to December, volumes decreased by 75.9 Mcm, or -7.56%, and were 461.3 less the year prior’s level of 1388.9 Mcm. Propane storages in the East started December lower at 894.2, commensurate with 5.633 MMbbl. This loss put propane 104.6 Mcm, or -10.47%, lower for the month, with a decrease of 24.3, or -2.65% below a year earlier. 

Canadian butane inventories stood at 819.3 Mcm at the beginning of December, for a decrease of 66.4 Mcm, or 7.50%, from November. Like propane, the year-over-year comparison finds butane volumes to be lower than the prior year’s total, with inventories 482.1 Mcm, or 37.04%, below 2020. Western butane supplies, at 516.6 Mcm, were higher by 22.4 Mcm, or 4.53%, from the previous months and were 442.3Mcm, or 46.13%, less than last year. Eastern butane, at 302.8Mcm, was 88.8Mcm, or -22.68%, lower month over month, and totaled 39.6Mcm, or -11.57%, below a year earlier.