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.
About Keyera
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.
Disclaimer
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.
Additional Information
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.
