CALGARY, June 28, 2013 /CNW/ - Keyera Corp. (TSX:KEY) (TSX:KEY.DB.A)
("Keyera") announced today that operational issues at its Alberta
EnviroFuels facility have resulted in the plant being shut down for
repairs.
The facility was taken offline on June 15 to address operational problems that could not be resolved while the
plant was running. Since that time, staff at the facility have been
working to resolve the problem. Re-assembly of the process unit will
begin shortly and Keyera anticipates that the facility will resume
production of iso-octane in early July and reach normal production by
mid-month. This schedule assumes that the re-assembly goes as planned
and that the plant resumes production without any further
complications.
The impact on iso-octane sales was minor in June, as the majority of
product had been shipped to customers prior to the outage. Existing
iso-octane inventory is available to meet a portion of July sales and
Keyera expects to resume regular sales and deliveries once the facility
is back on line.
Disclaimer
This document contains forward-looking statements based on management's
current expectations and assumptions relating to Keyera's business, the
environment in which it operates, anticipated timing and closing of the
acquisitions and the future operations and performance of the assets.
As these forward-looking statements depend upon future events, actual
outcomes may differ materially depending on factors such as:
satisfactory resolution of the operational problems at the facility;
resumption of stable operations at the facility on schedule; operating
capacity facility; future operating results of the assets; Keyera's
ability to execute its strategic initiatives; construction and input
costs; weather conditions; construction scheduling variables; 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 in developing and producing natural gas; 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 they will have the expected consequences for or
effects on Keyera.
About Keyera Corp.
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 Natural Gas Liquids (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.
SOURCE: Keyera Corp.
