USD Partners has entered into a four-year extension with Canovus Energy from 7% to 25%.
The renewal contains consistent take-or-pay terms with minimum monthly payments and rates that exceed those of the original terminalling services agreement with the customer.
Jim Albertson, USD’s senior vice president, Canadian business unit, says: ‘This contract extension, along with the first extension we announced earlier this year, represents a meaningful increase in our contracted capacity at the Hardisty rail terminal and is confirmation of the significant demand that exists for takeaway capacity out of Western Canada. We continue to work with the balance of our customers as well as new customers on contracting the remaining available capacity.’
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