Keyera Announces Long-Term Diluent Handling Agreement with Cenovus

Keyera Announces Long-Term Diluent Handling Agreement with Cenovus 
CALGARY, March 21, 2014 /CNW/ - Keyera Corp. ("Keyera") (TSX:KEY) announced 
today that it has entered into a long-term agreement with Cenovus Energy Inc. 
("Cenovus") to provide diluent handling services in the Edmonton/Fort 
Saskatchewan area.  This agreement will provide Keyera with long-term, 
take-or-pay and fee-for-service revenues, beginning in 2014. 
"We are very pleased to strengthen our relationship with Cenovus" said David 
Smith, President and Chief Operating officer of Keyera.  "This agreement 
solidifies our position as the premier provider of diluent handling services 
in the Edmonton/Fort Saskatchewan area and supports further expansions of our 
asset infrastructure in the region." 
Keyera will provide diluent storage services which will increase up to the 
equivalent of approximately 3 storage caverns by 2018.  While Keyera has the 
capacity to store these volumes at its Keyera Fort Saskatchewan facility 
("KFS") in the existing and new storage caverns under development, this 
agreement will help underpin potential future capital investment in new cavern 
development as part of Keyera's ongoing storage development strategy.  
Transportation services will be provided on Keyera's Fort Saskatchewan 
Condensate System between various diluent supply sources and certain delivery 
points in the Edmonton/Fort Saskatchewan area.  As part of these 
transportation services, Keyera will utilize its previously announced diluent 
receipt connection off Kinder Morgan's Cochin Pipeline that is scheduled to be 
completed in the second quarter of 2014. 
About Keyera 
Keyera Corp. (TSX:KEY) 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 
NGLs, the production of iso-octane and crude oil midstream activities. 
Keyera's gas processing plants and associated facilities are strategically 
located in the west central, foothills and deep basin natural gas production 
areas of the Western Canada Sedimentary Basin. Its NGL and crude oil 
infrastructure, including pipelines, terminals and processing and storage 
facilities, as well as its iso-octane facility, are located in Edmonton and 
Fort Saskatchewan, Alberta, a major North American NGL hub. Keyera markets 
propane, butane, condensate and iso-octane to customers in Canada and the 
United States. 
This document contains forward-looking statements based on Keyera's current 
expectations and assumptions relating to its business, the environment in 
which it operates, its future operations and the performance of its assets. As 
these forward-looking statements depend upon future events, actual outcomes 
may differ materially depending on factors such as: satisfaction in diluent 
volume commitments; construction variables for the Cochin pipeline receipt 
point, including input costs construction scheduling, availability of 
construction crews and sourcing of required parts and equipment; future 
operating results of the assets; the ability of Keyera to execute each of 
their strategic initiatives in relation to this project and associated 
services (including its ability to proceed with further cavern development); 
weather conditions; commodity supply/demand balances and prices; activities of 
producers, competitors, customers, business partners and others; overall 
economic conditions; access to capital and financing alternatives; operational 
risks associated with pipeline operations, NGL extraction and oilsands 
activities; and potential delays or changes in plans with respect to 
development projects or capital expenditures or the results therefrom; the 
legislative, regulatory and tax environment; and other known or unknown 
factors. There can be no assurance that the results or developments 
anticipated by Keyera will be realized or that it will have the expected 
consequences for or effects on Keyera. 
For additional information on these and other factors, see Keyera's public 
filings on Unless otherwise required by applicable laws, Keyera 
does not intend to publicly update or revise forward-looking statements, 
whether as a result of new information, future events or otherwise.

SOURCE  Keyera Corp. 
about Keyera, please visit our website or contact: 
Keyera Corp. 
John Cobb, Vice-President, Investor Relations, or Julie Puddell, Manager, 
Investor Relations; Telephone: 403.205.7670 / Toll Free: 
To view this news release in HTML formatting, please use the following URL: 
CO: Keyera Corp.
ST: Alberta
-0- Mar/21/2014 11:30 GMT
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