Gibson Energy Announces New Tankage at Edmonton Terminal

Source: www.gulfoilandgas.com 8/3/2021, Location: North America

Gibson Energy Inc. has sanctioned the construction of new tankage at its Edmonton Terminal.

"We are pleased to announce the sanction of new tankage at our Edmonton Terminal, extending our pipeline of high-quality, long-term infrastructure growth projects," said Steve Spaulding, President and Chief Executive Officer. "We continue to see the need for additional tankage in Edmonton ahead of the Trans Mountain Pipeline Expansion entering service and remain in discussions with other shippers regarding further opportunities. Combined with the other commercial discussions we are having across our asset base, we feel confident in our ability to secure infrastructure growth opportunities at a pace that will ensure we continue to drive meaningful per share growth."

Gibson has sanctioned the construction of a new 435,000 barrel tank at its Edmonton Terminal, to be placed into service in early 2023. The new tankage will be constructed at a capital cost consistent with the Company's target build multiple of 5x to 7x EBITDA under a long-term, take-or-pay and stable fee-based contract with a new investment grade energy customer.

With the sanction of the new tankage at Edmonton, as well as the addition of several smaller projects throughout the Company's asset base, Gibson anticipates growth capital in 2021 of approximately $200 million. Gibson remains fully-funded for all sanctioned capital, with significant incremental internal funding capacity. This funding position is largely the result of the sustained growth of the Company's Infrastructure businesses, increasing retained cash flows and further strengthening Gibson's balance sheet.


Greece >>  6/27/2022 - TEN, Ltd., a leading crude, product, and LNG tanker operator, announced that the Company’s General Annual Meeting of Shareholders was duly held in Ath...
Greece >>  6/22/2022 - TEN, Ltd. a leading diversified crude, product and LNG tanker operator, announced the delivery of its fourth DP2 shuttle tanker, the Porto, from a Sou...

Monaco >>  6/22/2022 - Navios Maritime Partners L.P., an international owner and operator of dry cargo and tanker vessels, announced that it agreed to purchase two liquified...
Norway >>  6/13/2022 - TECO 2030 launches hydrogen powered tanker concept, Hy-Ekotank, together with our partners Ektank AB, Shell Shipping and Maritime, and DNV. The hydrog...

Norway >>  6/8/2022 - In a joint technical seminar held during the Posidonia trade fair, shipyard Hyundai Mipo Dockyard (HMD), ship service company Hyundai Global Service (...
United States >>  6/7/2022 - We wish to inform you that we have sold the last of our originally four 2002 built suezmax tankers, the “Nordic Moon”.

The price is about ...





Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.