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.  Disclaimer  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:  888.699.4853  To view this news release in HTML formatting, please use the following URL:  CO: Keyera Corp. ST: Alberta NI: OIL LOAN MNA ORDER  
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