Operations have started at the Base Line Terminal which is a 50/50 joint venture between Keyera Corp and Kinder Morgan. The terminal sits next to Keyera’s Alberta EnviroFuels facility near Edmonton in 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 between Keyera and Kinder Morgan Canada Limited and will provide customers with a total of 4.8 million barrels of crude oil storage capacity.
Keyera’s President and CEO, David Smith said: “The Base Line Terminal is a great addition to our diversified portfolio of assets. 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.
17th Jan 2018