Keyera (TSX: KEY) and Canadian National Railway (CN) (TSX: CNR) have entered into a memorandum of understanding (MoU) to explore the development of a specialized clean energy terminal in Alberta’s Industrial Heartland.
The clean energy terminal aims to consolidate both conventional and clean energy from various sources to facilitate the transportation of Alberta’s energy products and further Canada’s commitment to a more sustainable future.
CN’s president and chief executive officer, Tracy Robinson, emphasized the project’s alignment with the company’s core competency of environmentally responsible movement of Canadian natural resources to local and global markets.
Keyera’s president and chief executive officer, Dean Setoguchi, highlighted the benefits of leveraging the expertise of both parties to support the global energy transition and meet evolving customer needs.
The collaboration between Keyera and CN aims to establish the most efficient rail logistics solution in Alberta’s Industrial Heartland through the development of the clean energy terminal. This initiative will enable industrial players to transport specialized low-cost sustainable energy products to key markets both domestically and internationally.
The terminal will be strategically located on adjacent land owned by both companies, utilizing CN’s rail network and existing infrastructure. Upon completion, the facility will have the capacity to handle six high-capacity trains per day.
Mark Plamondon, executive director of the Alberta Industrial Heartland Association, highlighted the significant capital investment that the terminal represents for the region and its potential to attract new clean energy investments.
Rod Frank, Mayor of Strathcona County, emphasized the importance of the agreement in supporting the global energy transition and creating opportunities for job growth and a cleaner environment in the region. He underscored the role of existing production assets and transportation infrastructure in attracting new investments and supporting local industry.
