Two new 400,000 barrel crude oil storage tanks and pipeline infrastructure will be built at Gibson Energy’s Edmonton Terminal.
This expansion, which complements the current 600,000 barrels of existing storage and the 300,000 barrel development project for Statoil, will bring total capacity to 1.7 million barrels.
The new tanks, which are expected to be in-service by the second quarter of 2018, are underpinned by a long-term, take-or-pay contract with a large, integrated, investment grade customer.
Steward Hanlon, Gibson’s president and CEO says: ‘This most recent storage tank contract reflects the competitiveness of Gibson’s merchant terminal offering at Edmonton, as well as the commitment of our customer to their longer term growth plans.
‘As we move through the third quarter, we continue to see modest improvements, as expected, within our logistics segment.’