NEWS
For Immediate Release
Keyera Announces Closing of Alberta EnviroFuels Acquisition Calgary, January 19, 2012 - Keyera Corp. (TSX:KEY) (TSX:KEY.DB.A) ("Keyera") announced today it has closed its acquisition of Alberta EnviroFuels ("AEF"), an iso-octane manufacturing business located in Edmonton, Alberta.
As part of the transaction, Keyera acquired a 13,600 barrel
per day iso-octane manufacturing facility; pipelines
associated with the facility; and iso-octane sales agreements
with major refiners. Keyera also entered into multi-year
agreements with Chevron Standard Limited and its affiliates
relating to sales, transportation, downstream processing, and
shipping of iso- octane. The purchase price of US$193.7
million, plus working capital of US$43.2 million primarily
related to butane and iso-octane inventories, was funded
using existing cash flow and Keyera's bank credit
facility.
AEF is the largest iso-octane manufacturing facility in the
world. The facility uses butane as the primary feedstock and
is connected by pipeline through Keyera's Edmonton Terminal
with the rest of Keyera's NGL infrastructure in the
Edmonton/Fort Saskatchewan area. Iso-octane manufactured at
AEF is shipped via the Trans Mountain Pipeline to Chevron's
Burnaby, B.C. refinery and onward to customers in California.
Iso-octane produced at the AEF facility is also sold to
refiners in Alberta.
Keyera Corp. (TSX:KEY) (TSX: KEY.DB.A) operates one of the
largest natural gas midstream businesses in Canada. Its
business consists of natural gas gathering and processing as
well as the processing, transportation, storage and marketing
of natural gas liquids (NGLs) and crude oil midstream
activities.
Keyera's gas processing plants and associated facilities
are strategically located in the west central, deep basin and
foothills natural gas production areas of the Western Canada
Sedimentary Basin. Its NGL and crude oil infrastructure
includes pipelines, terminals and processing and storage
facilities in Edmonton and Fort Saskatchewan, Alberta, a
major North American NGL hub. Keyera markets propane, butane
and condensate to customers in Canada and the United States.
For further information about Keyera, please visit our
website at www.keyera.com or contact: John Cobb, Director,
Investor Relations or
Heidi Christensen Brown, Senior Advisor, Investor
Relations
E-mail: ir@keyera.com, Telephone: (403) 205-7670 / Toll Free:
(888) 699-4853, Facsimile: (403) 205-8425.
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