Canadian Inventories Down From January to February

Canada’s primary underground propane inventories decreased by 30.76% in February, Canada Energy Regulator (CER). The total represented a month-to-month decrease of 470 Mcm. Compared to a year earlier, stocks were lower, with 613.6 Mcm, or 36.71%, less product on hand. 

Propane storages in the West started February a bit lower at 618.1 Mcm, which corresponds to 3.89 MMbbl, the agency reported. From January to February, volumes decreased by 181.7 Mcm, or -22.72%, and were 337.9 less the year prior’s level of 956 Mcm.  Propane storages in the East started February lower at 439.9, commensurate with 2.77 MMbbl. This loss put propane 288.3 Mcm, or 39.59%, lower for the month, with a decrease of 275.7, or 38.53% below a year earlier. 

Canadian butane inventories stood at 597.8 Mcm at the beginning of February, for a decrease of 108.7 Mcm, or 15.39%, from January. Like propane, the year-over-year comparison finds butane volumes to be lower than the prior year’s total, with inventories 235.7 Mcm, or 28.28%, below 2020. Western butane supplies, at 455.4 Mcm, were lower by 34.8 Mcm, or 7.10%, from the previous months and were 161.6 Mcm, or 26.19%, less than last year. Eastern butane, at 142.4Mcm, was 73.8 Mcm, or 34.14%, lower month over month, and totaled 74.2 Mcm, or 34.26%, below a year earlier. 

Source: Canada Energy Regulator