January 17, 2018 [Cision] - Keyera Corp. ("Keyera") today announced the startup of the Base Line Terminal (the "Terminal"), an above-ground crude oil storage terminal adjacent to its Alberta EnviroFuels facility near Edmonton, Alberta.
The first four tanks are now in service with the remaining eight tanks expected to be phased into service throughout 2018. The Terminal is a 50-50 joint venture in affiliation with Kinder Morgan Canada Limited (“Kinder Morgan”) and will provide customers with a total of 4.8 million barrels of crude oil storage capacity.
“The Base Line Terminal is a great addition to our diversified portfolio of assets,” said David Smith, Keyera’s President and CEO. “This new business provides Keyera with stable fee-for-service cash flows fully underpinned by several take-or-pay agreements up to 10 years in length with creditworthy counterparties. We are pleased to have partnered with Kinder Morgan by combining our complementary assets and areas of expertise to meet customer needs.“
The total Base Line Terminal project is currently on time and on budget. Up to an additional 1.8 million barrels of crude oil storage capacity may be added to the Terminal, depending on future customer demand.
—————————-
Learn how to unlock more key tank terminal data. Join the Free Webinar TankTerminals.com 2.0: Smart Business Decisions, Powered by Data. Date: February 7th, 2018.
