Canadian Propane Inventories Climb 21.8%

Canadian underground propane inventories jumped 21.8% in August to reach 1776.8 Mcm, the equivalent of 11.2 MMbbl, as of Sept. 1, according to the National Energy Board (NEB), which noted that stocks rose 317.8 Mcm month over month. Compared to a year earlier, Canada’s propane volumes stood 25% higher and were up by 355.4 Mcm, the agency reports.

Propane storages in the West saw supplies increase 23.4%, or by 186.0 Mcm, during August and by month’s end they stood at 981.9 Mcm, or 6.2 MMbbl, according to NEB. In a year-over-year comparison, inventories were 20.4% higher, a hike of 166.6 Mcm. In the East, stocks posted a monthly gain of 19.9%, rising 131.9 Mcm to stand at 795.0 Mcm, or 5 MMbbl. For the year, eastern volumes were up 31.2%, or 189.0 Mcm.

Canadian butane inventories also experienced a build in August and rose 17.4%, or 147.8 Mcm, to begin September at 997.2 Mcm. However, for the year stocks were off 4.5%, or by 46.8 Mcm. Western butane storages climbed 7.4% month over month for an increase of 32.9 Mcm, and ended the month at 480.1 Mcm. Eastern supplies increased a steeper 28.6%, or 114.9 Mcm, and began September at 517.1 Mcm. For the year, butane in the West was off 27.0%, or by 177.3 Mcm. Conversely, in the East inventories stood 33.8% higher, marking a 130.5-Mcm improvement.