Featuring four storage tanks totaling 1.2 million barrels, the Hardisty West Terminal was developed as a joint venture with Suncor.
Scheduled to be completed in 2017, the expansion aims to strengthen Suncor Energy’s oil sands operations and increase total storage capacity at Hardisty West by 75% to 2.1 million barrels.
Gibsons chief commercial officer Doug Wilkins said: "We are delighted that Suncor has once again selected Gibsons as a business partner to provide solutions for their crude oil terminaling and market access requirements.
"With today’s announcement, Gibsons will be constructing new storage tanks on both our East and West acreage at Hardisty which, upon completion, will result in a total of 8.9 million barrels of capacity.
"This represents a 3.8 million barrel, or 75%, increase in crude oil storage in-service throughout our Hardisty terminal compared to December, 2014 levels.
"The high degree of pipeline and unit train connectivity at our Hardisty Terminal offers our customers industry leading export optionality and the contracted nature of these investments offers our shareholders increasingly stable and predictable cash flows."
Gibsons is engaged in the movement, storage, blending, processing, marketing and distribution of crude oil, condensate, natural gas liquids, water, oilfield waste, and refined products.
