Canadian Inventories Decrease From January to February

Canada’s primary underground propane inventories decreased by 30.22% in February, according to the Canada Energy Regulator. The total, 1064.2 Mcm, represented a month-to-month decrease of 460.8 Mcm. Compared to a year earlier, stocks were higher, with 6.2 Mcm, or 0.59%, more product on hand. 

Propane storages in the West started February a bit lower at 574.2 Mcm, which corresponds to 3.617 MMbbl, the agency reported. From January to February, volumes decreased by 274.4 Mcm, or 32.34%, and were 43.9 less than the year prior’s level of 618.1 Mcm.  

Propane storages in the East started February lower at 490 Mcm, commensurate with 3.087 MMbbl. This loss put propane 186.4 Mcm, or 27.56%, lower for the month, with an increase of 50.1, or 11.39% above a year earlier. 

Canadian butane inventories stood at 770.5 Mcm at the beginning of February, for a decrease of 182.9 Mcm, or 19.18%, from January. Like propane, the year-over-year comparison finds butane volumes to be higher than the prior year’s total, with inventories 172.7 Mcm, or 28.89%, above 2022.  

Western butane supplies, at 476.9 Mcm, were lower by 95.5 Mcm, or 16.68%, from the previous month and were 21.5 Mcm, or 4.72%, more than last year. Eastern butane, at 293.6 Mcm, was 87.5 Mcm, or 22.96%, lower month over month, and totaled 151.2 Mcm, or 106.18%, above a year earlier. 

Source: Canada Energy Regulator