Gibson Energy plans to build Alberta oil sands rail terminal

|About: Gibson Energy, Inc. (GBNXF)|By:, SA News Editor

Gibson Energy (GBNXF) and logistics provider U.S. Development Group plan to build a 140K bbl/day terminal in Hardisty, Alberta, to ship oil sands crude by rail.

The project would be the largest terminal for western Canada, where demand to move crude by rail has been gathering pace as producers look for ways to ease congested export pipelines.

Term contracts have been signed with four customers for ~100K bbl/day; the terminal, due to be operational by Q1 2014.