ESTMA Meeting Reporting Expectations
What is “ESTMA”?
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.
information on ESTMA, please refer to the Natural Resources Canada website available
by clicking on the following link:
What Does ESTMA mean for
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
You can view Keyera’s
ESTMA reports as they become available by clicking on the following link:
Click here for the 2016 Keyera Corp. ESTMA report.
Click here for the 2017 Keyera Corp. ESTMA report.