Keyera has started operations at the Base Line Terminal, a new crude oil storage facility.
The first four tanks are now in service at the facility adjacent to its Alberta EnviroFuels facility near Edmonton, Alberta. The remaining eight tanks are expected to be phased into service throughout 2018.
It is a 50/50 joint venture with Kinder Morgan Canada and comprises 4.8 million barrels of crude oil storage capacity.
An additional 1.8 million barrels of crude oil storage capacity may be added to the terminal depending on future customer demand.
David Smith, Keyera's president and CEO, says: '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.'
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