Tanks Five and Six of Twelve Completed Ahead of Schedule at Kinder Morgan’s Base Line Terminal Joint Venture
CALGARY, March 13, 2018 – Kinder Morgan Canada Limited (TSX: KML), following the successful completion of the first four tanks and commencement of service in January, is pleased to announce that two additional tanks at the Base Line Terminal are available for service ahead of schedule, starting March 13th. The two tanks add an additional 800,000 barrels of crude storage to the 1.6 million barrels currently in operation.
“The team’s ability to deliver these assets early is great news for both customers and our business,” said John Schlosser, President, Terminals of Kinder Morgan Canada Limited. “Bringing these tanks online ahead of schedule will allow us to benefit immediately from strong industry demand for crude storage.”
The Base Line Terminal, which commenced operations on January 15th, 2018, is a 50-50 crude oil merchant terminal joint venture with Keyera (TSX: KEY) in Sherwood Park, Alberta (near Edmonton). Once completed, the terminal will provide a total of 4.8 millions barrels of crude storage and will be comprised of twelve tanks, all of which are fully-contracted with long-term, firm take-or-pay agreements with creditworthy customers. The remaining six tanks are expected to be completed in the third and fourth quarters of 2018.
Base Line Terminal is connected by pipeline to Kinder Morgan’s Edmonton-area terminals and is capable of sourcing the majority of the crude streams handled by Kinder Morgan for delivery to multiple destinations, including but not limited to, Kinder Morgan’s Trans Mountain Pipeline, the 50%-Kinder Morgan-owned Alberta Crude and Edmonton Rail terminals, other Edmonton area facilities and major export pipelines.
About Kinder Morgan Canada Limited
Kinder Morgan Canada Limited manages and owns a minority interest in a business, comprising a number of pipeline systems and terminal facilities including the Trans Mountain pipeline, the Canadian portion of the Cochin pipeline, the Trans Mountain Puget Sound pipeline, Trans Mountain Jet Fuel pipeline, the Westridge Marine and Vancouver Wharves terminals in British Columbia as well as various crude oil storage and loading facilities in and near Edmonton, Alberta. The Trans Mountain pipeline currently transports approximately 300,000 barrels per day (bpd) of crude oil and refined petroleum products from the oil sands in Alberta to Vancouver, British Columbia and Washington State.
For further information: Ali Hounsell, Media Relations, (604) 908-9734, firstname.lastname@example.org; Investor Relations, (800) 315-0578, KML_IR@kindermorgancanadalimited.com, www.kindermorgancanadalimited.com