HomeMagazine2020March 2020, Vol. 247, No. 3Gibson Sanctions Million-Barrel Expansion at Hardisty Terminal

March 2020, Vol. 247, No. 3

Features

Gibson Sanctions Million-Barrel Expansion at Hardisty Terminal

Calgary-based Gibson Energy Inc. said it has approved the construction of one million barrels of new tankage at its Hardisty Terminal.  Gibson said the expansion will include construction of two new 500,000-barrel tanks at the “Top of the Hill” portion of the Hardisty Terminal. The additional tankage represents an expansion of the fourth phase of development at the Top of the Hill, which will be placed into service by the end of 2020. The new tankage will be constructed at a capital cost consistent with the company’s target build multiple of five- to seven-times EBITDA (earnings before interest, taxes, depreciation and amortization) under long-ter

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