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Gibson Energy Inc. Announces Commencement of Storage Expansion and Potential Crude to Rail Opportunity at Hardisty Terminal
CALGARY, Sept. 17, 2012 /CNW/ - Gibson Energy Inc. ("Gibson" or the "Company"), TSX: GEI, a...
About this update from Gibson Energy Inc.
[{"type":"text","content":"\n\n\n\n\n\nCALGARY, Sept. 17, 2012 /CNW/ - Gibson Energy Inc. (\"Gibson\" or the\n \"Company\"), TSX: GEI, announced today two expansion opportunities at\n its Hardisty Terminal near Hardisty, Alberta.\n\n\nSubsequent to the previously announced open season process, the Company\n has received sufficient, long-term, committed customer support to begin\n construction of two 400,000 bbl oil storage tanks for an aggregate\n addition of 800,000 bbls of storage.  Located immediately adjacent on\n the East boundary of the existing Gibson's Hardisty Terminal, the two\n tanks will form the initial anchor for an expansion of the facility. \n The new tanks will be well connected to third party receipt pipelines\n and facilities and will have connectivity to all current export\n pipelines from Hardisty. They will also benefit from the synergies and\n operational flexibility provided by Gibson's existing Hardisty Terminal\n complex. Site preparation for the two 400,000 bbl tanks is scheduled to\n start in the fourth quarter of 2012. Commissioning is expected to occur\n in early 2014.\n\n\n\"This initial development on our eastern lands at Hardisty Terminal\n starts to take advantage of the Company's strategic 184 acre\n undeveloped land position in the area,\" said Rick Wise, Gibson's Senior\n Vice-President Operations.  \"We expect continued growth at our Hardisty\n Terminal as oil sands and conventional oil production continue to\n develop at an accelerated pace.\"\n\n\nGibson also announced today that it has signed a Letter of Intent with a\n major unit train developer to explore unit train shipments from the\n Hardisty area. The proposed facility would use Canadian Pacific's North\n Main Line for transporting crude by rail to markets across North\n America.\n\n\nAbout Gibson\n\n\nGibson is one of the largest independent midstream energy companies in\n Canada and a major participant in the crude oil transportation business\n in the United States, and is engaged in the movement, storage,\n blending, processing, marketing and distribution of crude oil,\n condensate, natural gas liquids, and refined products.  Gibson\n transports hydrocarbons by utilizing its integrated network of\n terminals, pipelines, storage tanks, and truck fleet located throughout\n western Canada and the United States.  Gibson is also involve...