March 19, 2018 [Kallanish Energy] - Kinder Morgan Canada has announced the completion of two additional storage tanks at its Base Line Terminal, near Edmonton, Alberta, Kallanish Energy reports.
The two tanks boost crude oil storage capacity by 800,000 barrels. The facility in Sherwood Park began service in January with four other tanks and storage capacity for 1.6 million barrels.
“The team’s ability to deliver these assets early is great news for both our customers and our business,” said John Schlosser, president, Terminals of Kinder Morgan Canada, in a statement.
“Bringing these tanks online ahead of schedule will allow us to benefit immediately from strong industry demand for crude storage,” he added.
The terminal is a 50-50 crude oil merchant terminal joint venture with Keyera. When completed, the facility will provide a total of 4.8 million barrels of crude storage and will include 12 tanks, all of which are fully contracted.
The remaining six tanks are to be constructed in the third and fourth quarters of 2018. The terminal is connected to Kinder Morgan pipelines, rail connections and export pipelines.
Kinder Morgan Canada had said previously it was investing $398 million in the project. An additional expansion of 1.8 million barrels is planned in Phase 2 of the project buildout.
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