Keyera Corp. acquires Chevron subsidiary for $198 million
Acquisition increases Keyera’s iso-octane production by 13,600 barrels a day
CALGARY—Energy transportation and storage firm Keyera Corp. has acquired gasoline blending component producer Alberta EnviroFuels for US$198 million.
Alberta EnviroFuels makes iso octane, a gasoline blending component derived from butane, which is a derivative of the natural gas liquids Keyera distributes.
The deal will give Keyera a 13,600 barrel per day manufacturing facility—the largest iso-octane manufacturing facility in the world—near its Edmonton terminal.
Sales agreements with major refiners are also part of the deal.
The Calgary-based company also gets multi-year agreements with Chevron and its affiliates.