US PROPANE — FOURTH QUARTER 2012, FIRST QUARTER 2013: US, Canada flush with propane at winter's end; markets to adjust

11/05/2012
Dan Lippe Petral Consulting Co. Houston All major supply hubs in US and Canada had surplus inventory of propane at the end of winter 2011-12. Propane markets in North America are dynamic, however, and possess various mechanisms to accommodate surpluses and shortages. Historically, feedstock flexibility was the most important of the various mechanisms. Specifically, ethylene plants in Texas and Louisiana have demonstrated the capability to vary propane consumption within a range of 200,000-400,000 b/d. A swing of 100,000 b/d translates into a cumulative change of 10 million bbl in 100 days. Enterprise Products Partners LP started up a second 300-MMcfd train at its Yoakum cryogenic natura...
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