Tundra Energy Marketing Limited

Tundra Energy Marketing Limited

August 16, 2012 14:22 ET

Tundra to Increase Oil Storage Capacity in Cromer, MB

CALGARY, ALBERTA--(Marketwire - Aug. 16, 2012) - To meet the growing needs of crude oil producers and shippers in Manitoba and southeast Saskatchewan, Tundra Energy Marketing Limited is adding 410,000 barrels of oil storage to its terminal in Cromer, Manitoba. With Tundra currently having 70,000 barrels of oil storage at Cromer, this initiative represents roughly a six-fold increase in its capacity.

Site preparation is underway. Construction of the two tanks, each 205,000 barrels in size, will continue for approximately 15 months and they should be operational in the fourth quarter of 2013.

"This project is a major investment for us and we are pleased to have received regulatory and board approval to proceed," says Bryan Lankester, President of Tundra Energy Marketing Limited. "The added tankage will be a very welcome addition to our business and that of our customers. It will provide us with enormous flexibility during times of volatile oil price behaviour. It will allow us to manage in a variety of supply-demand environments."

Tundra Energy Marketing handles crude oil on behalf of producers in the Williston Basin, including its parent company, Tundra Oil & Gas Partnership, which has been an active driller in the area for the past 32 years.

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