Business
Gibson Energy Inc. Announces Additional Storage Tankage
CALGARY, May 3, 2013 /CNW/ - Gibson Energy Inc. ("Gibson" or the "Company"), TSX: GEI, is p...
About this update from Gibson Energy Inc.
[{"type":"text","content":"\n\n\n\n\n\nCALGARY, May 3, 2013 /CNW/ - Gibson Energy Inc. (\"Gibson\" or the\n \"Company\"), TSX: GEI, is pleased to announce that it has received\n committed customer support for an additional 500,000 bbl crude oil\n storage tank at the Company's Hardisty Terminal.\n\n\nThis new tank will be constructed on the Company's eastern Hardisty\n lands along with the two 400,000 bbl tanks announced in September, 2012\n and the 300,000 bbl tank (now revised to 400,000 bbl) announced last\n month.  Details are as follows:\n\n\nSite preparation and civil work on the eastern Hardisty lands is now\n underway. \n\n\nExpected in-service dates for the new tanks are:\n\n\nMid 2014 for the first 400,000 bbl tank;\n\n\nLate 2014 for the second and third 400,000 bbl tanks; and\n\n\nEarly 2015 for the 500,000 bbl tank.\n\n\n\"The addition of 1.7 million barrels of new storage capacity announced\n in the last seven months reaffirms the attractiveness of our Hardisty\n Terminal location for customers as they direct their current and future\n production to appropriate markets,\" said Rick Wise, Gibson's Senior\n Vice President Operations.  \"We continue to have positive discussions\n with several customers regarding the further build out of strategic\n land positions at our Hardisty and Edmonton Terminals.  Therefore, we\n expect near-term organic growth to be largely driven by long-term,\n fee-based contracted storage tank construction, expanded terminal\n services and construction of rail infrastructure to facilitate crude\n oil movements.\"\n\n\nAbout Gibson\nGibson is a large, independent midstream energy company in Canada and an\n integrated service provider to the oil and gas industry in the United\n States. Gibson is engaged in the movement, storage, blending,\n processing, marketing and distribution of crude oil, condensate,\n natural gas liquids, water, oilfield waste and refined products. \n Gibson transports energy products by utilizing its network of\n terminals, pipelines, storage tanks, and trucks located throughout\n western Canada and through its significant truck transportation and\n injection station network in the United States.  Gibson also provides\n emulsion treating, water disposal and oilfield waste management\n services in Canada and the United States and is the second largest\n retail propane d...