Keyera enters long-term Duvernay NGL agreement with Chevron
CALGARY — Keyera Corp. announced that it has entered into a 20-yr midstream agreement with Chevron Canada Limited to fractionate and handle NGLs from Chevron's Kaybob Duvernay operations near Fox Creek, Alberta.
The Agreement includes an area of dedication that is in excess of 230,000 gross operated acres and also includes take-or-pay commitments. Under the terms of the Agreement, Chevron will deliver approximately 50% of its natural gas liquids from the area of dedication to Keyera for fractionation, storage and terminalling services on a fee-for-service basis.
Upon Chevron's request during the term of the Agreement, Keyera will provide such services through individual long-term service agreements. Keyera expects to provide the requested services through its fractionation, storage and terminalling assets at its Keyera Fort Saskatchewan energy complex. Depending on the success and scale of Chevron's Duvernay program, Keyera may need to expand its facilities in the future.
At CERAWeek by IHS Markit, held in Houston in March, IEA Director Fatih Birol said that the world would soon see a major second wave of shale gas production from the US in response to higher energy prices and growing demand from India and China.
Mozambique and Tanzania hold an estimated 180 Tft3 and 57 Tft3 of proven natural gas reserves, respectively.
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May 22, 2018 10am CDT