Extractive Sector Transparency Measures Act

ESTMA Meeting Reporting Expectations

What is “ESTMA”?

In connection with international anti-corruption efforts, the Canadian Government has implemented new reporting requirements for the oil, gas, and minerals industries. The purpose of the ESTMA is to deter corruption in the global extractive sector by making government revenues from natural resources transparent to the public, increase transparency and deter corruption in these extractive industries.

Under ESTMA, businesses that meet the reporting criteria are required to annually publicly report certain payments, including taxes, royalties, fees, production entitlements, bonuses, dividends and infrastructure improvement payments over $100,000, made to all governments in Canada and abroad in connection with the commercial development of oil, gas and minerals. While payments to first nations in Canada are not currently reportable, they will become subject to reporting obligations after June 1, 2017.

For more information on ESTMA, please refer to the Natural Resources Canada website available by clicking on the following link:

http://www.nrcan.gc.ca/mining-materials/estma/18184

What Does ESTMA mean for Keyera?

The vast majority of Keyera’s business involves midstream activities which are not covered by ESTMA. However, we do engage in oil and gas production as a result of our ownership of reserves associated with our the Minnehik Buck Lake, West Pembina, Bigoray and Cynthia facilities in Alberta. While our oil and gas extraction activities make up only a small portion of our business, we will be filing annual ESTMA reports reflecting applicable governmental payments associated with these activities before the end of May (150 days from our December 31 financial year end).

You can view Keyera’s ESTMA reports as they become available by clicking on the following link: