Canadian Propane Inventories Climb Again

Canadian underground propane inventories rose another 38.7% in July to reach 1460.8 Mcm as of Aug. 1, the equivalent of 9.2 MMbbl, according to the National Energy Board (NEB). The nation’s stocks gained 407.6 Mcm month over month to mark a 39.8%, or 416.2 Mcm, improvement over the same period last year, the agency reports. The latest build follows a 50.5% increase in June that brought volumes to 1053.2 Mcm, or 6.6 MMbbl.

Propane storages in the West were 198.5 Mcm higher, and climbed 33.2% in July to 795.9 Mcm, or 5 MMbbl, according to NEB. Compared to last year, western inventories were reported to be 37.7% higher, or by 218.1 Mcm. In the East, supplies posted a steeper 45.9% increase and rose 209.1 Mcm to stand at 664.9 Mcm, or 4.2 MMbbl, as of Aug. 1. In a year-over-year comparison, eastern stocks were up by 198.1 Mcm, or 42.4%.

Canadian butane inventories began August at 849.4 Mcm, having strengthened 21.3% during July, or by 149.1 Mcm. However, compared to last year, stocks were down 10.9%, or by 103.5 Mcm. Western butane storages ended July at 447.2 Mcm, up 28.1%, or by 98.1 Mcm, while in the East volumes saw a 14.5% increase to gain 51.0 Mcm. Compared to a year ago, butane supplies in the West were down 28.7%, or by 179.7 Mcm, while eastern inventories were 23.4%, or 76.2 Mcm, higher.