Keyera Provides Update on Western Reach Pipeline Initiative
CALGARY, Aug. 13, 2013 /CNW/ - Keyera Corp. (TSX:KEY) (TSX:KEY.DB.A) ("Keyera") announced that effective today, Keyera and Plains Midstream Canada ULC will not be jointly pursuing the construction and operation of the proposed Western Reach Pipeline system. Both companies have the right to separately pursue pipeline initiatives similar to what had been proposed for Western Reach.
Keyera will be pursuing the development of a liquids pipeline system in northwest Alberta to deliver NGL mix and condensate from the Deep Basin area of Alberta to Alberta's NGL hub in Fort Saskatchewan and is proceeding with plans to secure sufficient producer commitments to underpin construction.
More information about Keyera's proposed liquids pipeline system, including contact information for a Keyera representative, can be found on Keyera's website at www.keyera.com.
Keyera Corp. (TSX:KEY) (TSX:KEY.DB.A) operates one of the largest natural gas midstream businesses in Canada. Its business consists of natural gas gathering and processing as well as the processing, transportation, storage and marketing of NGLs, the production of iso-octane and crude oil midstream activities.
Keyera's gas processing plants and associated facilities are strategically located in the west central, foothills and deep basin natural gas production areas of the Western Canada Sedimentary Basin. Its NGL and crude oil infrastructure, including pipelines, terminals and processing and storage facilities, as well as its iso-octane facility, are located in Edmonton and Fort Saskatchewan, Alberta, a major North American NGL hub. Keyera markets propane, butane, condensate and iso-octane to customers in Canada and the United States.
This document contains forward-looking statements based on Keyera's current expectations and assumptions relating to the proposed liquids pipeline system, its business, the environment in which it operates and its future operations and performance of its assets. As these forward-looking statements depend upon future events, actual outcomes may differ materially depending on factors such as: producer drilling plans and results in the region to be served; negotiation of satisfactory agreements with producers or other potential shippers in order to support construction and operation of the proposed liquids pipeline system; obtaining all necessary approvals and consents for the proposed liquids pipeline system and all associated facilities; securing appropriate rights-of-way for the proposed liquids pipeline system; producer interest in the services being offered; construction and input costs; construction scheduling variables; availability of construction crews and engineering services; ability to source required parts and equipment; future operating results of the assets; Keyera's ability to execute its strategic initiatives; weather conditions; commodity supply/demand balances and prices; activities of producers, competitors, customers, business partners and others; overall economic conditions; access to capital and financing alternatives; operational risks associated with natural gas processing and NGL extraction; regulatory approvals for future plant expansion opportunities; and potential delays or changes in plans with respect to development projects or capital expenditures or the results therefrom; the legislative, regulatory and tax environment; and other known or unknown factors. There can be no assurance that the results or developments anticipated by Keyera will be realized or that it will have the expected consequences for or effects on Keyera.
For additional information on these and other risk factors, see Keyera's public filings on www.sedar.com. The information provided in this release is given as of the date hereof.
SOURCE: Keyera Corp.
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