Kinder Morgan Inc.'s Canadian subsidiary placed into service two more storage tanks out of 12 planned tanks at its Base Line crude storage terminal in Alberta, bringing the total number of tanks in service to six and adding 800,000 barrels of capacity to the project.
Before the addition of the two tanks, the Base Line terminal, a crude oil merchant terminal joint venture between Kinder Morgan Canada Ltd and Keyera Corp., had four tanks with 1.6 million bbl of capacity that commenced service in January. The final six tanks are scheduled for completion in the third and fourth quarters. The terminal in Sherwood Park, Alberta, is expected to eventually provide 4.8 million bbl of storage. The project is fully contracted with long-term, firm take-or-pay agreements.
The terminal connects by pipeline to Kinder Morgan's Edmonton terminals and handles oil that will move to destinations such as the Trans Mountain pipeline and the Alberta Crude and Edmonton Rail terminals.
