CALGARY,
AB, Aug. 17, 2022 /CNW/ - Keyera Corp.
("Keyera") and CN (TSX: CNR) (NYSE: CNI) today announced the
signing of a Memorandum of Understanding that will leverage their
joint expertise to evaluate the creation of a specialized clean
energy terminal in Alberta's
Industrial Heartland. The new infrastructure would aggregate
conventional and clean energy from multiple sources to support
transportation of Alberta's
diverse energy products and further strengthen the development of
Canada's green energy
future.
"This project capitalizes on a core CN strength: sustainably
moving Canadian natural resources safely and efficiently to
domestic and international markets," explained Tracy Robinson, CN's President and CEO. "We
are pleased to be working with Keyera on this project which will
benefit Alberta and the Canadian
economy. The project will offer a unique opportunity to aggregate
products from multiple producers and will provide an efficient
mechanism to not only support Canadian industry but also further
global energy transition."
"This agreement builds on the strengths of each partner and
allows for the most efficient solutions for the industry to achieve
both the needs of today's market and the future of clean energy,"
said Dean Setoguchi, Keyera's
President and CEO. "Together, Keyera and CN demonstrate how
collaboration is key to creating sustainable solutions, meeting the
evolving needs of our customers, and transporting high value
products locally and abroad while supporting Canada's path to net-zero."
"Alberta's government is
thrilled to see this agreement between Keyera and CN as they work
towards bringing Alberta's clean
energy products to new and growing markets across the world. This
collaboration is another clear indication that Alberta has all the tools needed to be a
global leader in the efforts to build a more diversified energy
system, while also offering a secure and ethical source for
traditional energy resources. With companies like Keyera and CN
leading the way, Alberta will be
looked to for generations as an international destination for
responsible energy production."
Dale Nally, Associate Minister of
Natural Gas and Electricity
"The clean energy terminal will be a significant capital
investment in new infrastructure in Alberta's Industrial Heartland (AIH). The
terminal will add to the competitiveness of AIH, which will
underpin additional new clean energy investments that take
advantage of centralized loading and cost-efficient access to
global markets. This investment also illustrates that successful
collaboration has been effective in helping create new economic
opportunities and enhancing the already robust offerings in
AIH."
Mark Plamondon, Executive
Director, Alberta Industrial Heartland Association
"This announcement confirms the global need for clean energy
products, and demonstrates the cluster advantages right here in our
region that serve markets around the globe. Opportunities for jobs
and a cleaner environment will now grow even more. We are seeing
the importance of existing production assets and robust
transportation infrastructure to attract new investment to our
region, and will continue to ensure that our region provides the
right environment for local industry and businesses to succeed and
grow."
Rod Frank, Mayor of Strathcona
County
The objective of this collaboration is the creation of the most
efficient rail logistics solution in Alberta's Industrial Heartland. The proposed
first-class facility would create a safe and efficient solution for
industrial players to connect and transport a range of specialized
low-cost sustainable energy products to key markets domestically
and globally.
The high throughput, state of the art facility would be built on
adjoining lands belonging to Keyera and CN. The benefits of this
strategic location include an unparalleled opportunity for product
aggregation through close proximity to large industrial operators,
existing infrastructure to support the terminal and its customers
including carbon sequestration, and direct access to the CN rail
network. It is envisioned that at the time of its completion, the
facility would be capable of handling six inbound and outbound
high-capacity trains daily.
CN Forward-looking Statements
Certain statements included in this news release constitute
"forward-looking statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and under
Canadian securities laws, including relating to the timing or
building of the clean energy terminal. By their nature,
forward-looking statements involve risks, uncertainties and
assumptions. The Company cautions that its assumptions may not
materialize and that current economic conditions render such
assumptions, although reasonable at the time they were made,
subject to greater uncertainty. Forward-looking statements may be
identified by the use of terminology such as "believes," "expects,"
"anticipates," "assumes," "outlook," "plans," "targets," or other
similar words. Forward-looking statements reflect information as of
the date on which they are made. CN assumes no obligation to update
or revise forward-looking statements to reflect future events,
changes in circumstances, or changes in beliefs, unless required by
applicable securities laws. In the event CN does update any
forward-looking statement, no inference should be made that CN will
make additional updates with respect to that statement, related
matters, or any other forward-looking statement.
About CN
CN is a world-class transportation leader and trade-enabler.
Essential to the economy, to the customers, and to the communities
it serves, CN safely transports more than 300 million tons of
natural resources, manufactured products, and finished goods
throughout North America every
year. As the only railroad connecting Canada's Eastern and Western coasts with the
U.S. South through a 18,600-mile rail network, CN and its
affiliates have been contributing to community prosperity and
sustainable trade since 1919. CN is committed to programs
supporting social responsibility and environmental stewardship.
Keyera Forward-Looking Statements
In order to provide readers with information regarding Keyera,
including its assessment of future plans and operations, its
financial outlook and future prospects overall, this press release
contains certain statements that constitute "forward-looking
information" within the meaning of applicable Canadian securities
legislation (collectively, "forward-looking information").
Forward-looking information is typically identified by words such
as "anticipate", "continue", "estimate", "expect", "may", "will",
"project", "should", "plan", "intend", "believe", and similar words
or expressions, including the negatives or variations thereof. All
statements other than statements of historical fact contained in
this document are forward-looking statements.
All forward-looking information reflects Keyera's beliefs and
assumptions based on information available at the time the
applicable forward-looking information is made and in light of
Keyera's current expectations. Forward-looking information does not
guarantee future performance. Management believes that its
assumptions and expectations reflected in the forward-looking
information contained herein are reasonable based on the
information available on the date such information is provided and
the process used to prepare the information. However, it cannot
assure readers that these expectations will prove to be correct.
All forward-looking information is subject to known and
unknown risks, uncertainties and other factors that may cause
actual results, events, levels of activity and achievements to
differ materially from those anticipated in the forward-looking
information.
Readers are cautioned that they should not unduly rely on the
forward-looking information included in this press release.
Further, readers are cautioned that the forward-looking information
contained herein is made as of the date of this press release.
Unless required by law, Keyera does not intend and does not assume
any obligation to update any forward-looking information. All
forward-looking information contained in this press release is
expressly qualified by this cautionary statement.
Further information about the assumptions, risks, uncertainties and
other factors affecting the forward-looking information contained
in this press release is available in filings made by Keyera with
Canadian provincial securities commissions, including under
"Forward-Looking Statements" in Keyera's management's discussion
and analysis for the year ended December 31,
2021 and for the period ended June
30, 2022 and in Keyera's Annual Information Form for the
year ended December 31, 2021, each of
which is available on the company's SEDAR profile at
www.sedar.com.
About Keyera
Keyera Corp. (TSX:KEY) operates an integrated Canadian-based energy
infrastructure business with extensive interconnected assets and
depth of expertise in delivering energy solutions. Its
predominantly fee-for-service based business consists of natural
gas gathering and processing; natural gas liquids processing,
transportation, storage and marketing; iso-octane production and
sales; and an industry-leading condensate system in the
Edmonton/Fort Saskatchewan area of Alberta. Keyera strives to provide high
quality, value-added services to its customers across North America and is committed to conducting
its business ethically, safely and in an environmentally and
financially responsible manner.
Additional Information
Investor Relations inquiries, please contact:
CN
Paul Butcher,
Vice-President, Investor Relations
Email: investor.relations@cn.ca Telephone:
514.399.0052
Keyera
Dan Cuthbertson, Director, Corporate
Development & Investor Relations
Calvin Locke, Manager, Investor
Relations
Rahul Pandey, Senior Advisor,
Investor Relations
Email: ir@keyera.comTelephone: 403.205.7670
Toll free: 888.699.4853
Media inquiries, please contact:
CN
Jonathan Abecassis, Senior Manager,
Media Relations
Email: media@cn.ca Telephone: 438.455.3692
Keyera
Kirsten
Bell, Director, Stakeholder Communications
Terry Cunha, Advisor, Media
Relations
Email: media@keyera.com Telephone: 587.496.8092
SOURCE Keyera Corp.
