Keyera Elects to Maintain its 50% Ownership in Base Line Terminal
CALGARY, Nov. 18, 2019 CNW/ - Keyera Corp. (TSX:KEY) ("Keyera") announced today that it recently received a right of first refusal notice ("ROFR") from an affiliate of Kinder Morgan Canada Limited ("Kinder Morgan") in respect of Kinder Morgan's 50 percent interest in the Base Line Terminal ("the Terminal").
Keyera has elected not to exercise the ROFR and will continue to have a 50 per cent interest in the Terminal. The Terminal is an above-ground crude oil storage facility located near Edmonton, Alberta that provides customers with a total of 4.8 million barrels of crude oil storage capacity.
The ROFR was provided by Kinder Morgan in connection with the proposed acquisition of Kinder Morgan Canada Limited by Pembina Pipeline Corporation.
Keyera Corp. (TSX:KEY) operates an integrated Canadian-based midstream business with extensive interconnected assets and depth of expertise in delivering midstream energy solutions. Its predominantly fee-for-service based business consists of natural gas gathering and processing; natural gas liquids processing, transportation, storage and marketing; iso-octane production and sales; and an industry-leading condensate system in the Edmonton/Fort Saskatchewan area of Alberta. Keyera strives to provide high quality, value-added services to its customers across North America and is committed to conducting its business ethically, safely and in an environmentally and financially responsible manner.
For further information about Keyera, please visit our website at www.keyera.com or contact:
Lavonne Zdunich, Director, Investor Relations,
Calvin Locke, Manager, Investor Relations, or
Beata Graham, Senior Analyst
Email: firstname.lastname@example.org; Telephone: 403.205.7670 / Toll Free: 888.699.4853
SOURCE Keyera Corp.