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
StatementsCertain 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 CNCN 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 KeyeraKeyera 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.
Contacts CN:
Media |
Investment Community |
Jonathan Abecassis |
Paul Butcher |
Senior Manager |
Vice-President |
Media Relations |
Investor Relations |
438-455-3692 |
(514) 399-0052 |
media@cn.ca |
investor.relations@cn.ca |
Contacts Keyera:Dan
Cuthbertson, Director, Corporate Development & Investor
RelationsCalvin Locke, Manager, Investor RelationsRahul Pandey,
Senior Advisor, Investor RelationsEmail: ir@keyera.comTelephone:
403.205.7670Toll free: 888.699.4853
Kirsten Bell, Director, Stakeholder
CommunicationsTerry Cunha, Advisor, Media RelationsEmail:
media@keyera.com Telephone: 587.496.8092
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