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Keyera Advances Gathering & Processing Optimization Plan


CALGARY – Keyera Corp. (TSX:KEY) (“Keyera”) today announced that it continues to make progress on its gathering and processing optimization plan and plans to suspend operations at four of its gas plants located in west central Alberta.

Keyera expects to suspend operations at its Minnehik Buck Lake and West Pembina gas plants in the second half of 2020, followed by the Ricinus and Nordegg River gas plants in 2021. Keyera will utilize its interconnected network of gathering systems to transfer volumes from these facilities to other Keyera gas plants in the area, to the extent it is commercially and operationally possible.

The optimization plan is intended to enhance Keyera’s long term competitive positioning by increasing utilization at its existing facilities, reducing per unit operating costs, and providing higher netbacks for producer customers. This optimization plan also aligns with Keyera’s environmental efforts by reducing its overall greenhouse gas emissions. Keyera will continue to advance the plan over the coming months and will provide more information in the second half of this year.

“It was a difficult decision to suspend operations at these four gas plants, which have been part of Keyera’s portfolio for many years. However, these optimization efforts will strengthen our gathering and processing business for the long term as they align with our customers’ needs and the current industry environment,” said David Smith, Keyera’s CEO. “In the coming weeks we will begin planning a safe and orderly suspension of the gas plants. Our priority is to ensure the health and safety of our employees and support our customers through the process.”

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.



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