Canadian Inventories Increase from October to November 2022

Canada’s primary underground propane inventories increased by 2.93% in November, according to the Canada Energy Regulator. The total represented a month-to-month increase of 53.9 Mcm. Compared to a year earlier, stocks were lower, with 108.6 Mcm, or 5.42%, less product on hand.

Propane storages in the West started November a bit lower at 1163.5 Mcm, which corresponds to 7.33 MMbbl, the agency reported. From October to November, volumes decreased by 34.1 Mcm, or 2.85%, and were 160 more than the year prior’s level of 1003.5 Mcm. 

Propane storages in the East started November higher at 730.1, commensurate with 4.5996 MMbbl. This gain put propane 88 Mcm, or 13.71%, higher for the month, with a decrease of 268.7, or 26.9%, below a year earlier.

Canadian butane inventories stood at 1251.2 Mcm at the beginning of November, for a decrease of 60.1 Mcm, or 4.58%, from October. Like propane, the year-over-year comparison finds butane volumes to be higher than the prior year’s total, with inventories 365.5 Mcm, or 41.27%, above 2021. 

Western butane supplies, at 691.1 Mcm, were higher by 13.1 Mcm, or 1.93%, from the previous months and were 196.9 Mcm, or 39.84%, more than last year. Eastern butane, at 560.1 Mcm, was 73.1 Mcm, or 11.54%, lower month over month, and totaled 168.5 Mcm, or 43.03%, above a year earlier. 

Source: Canada Energy Regulator