Cenovus completes purchase of rail terminal
Cenovus Energy Inc. has completed the purchase of a crude-by-rail transloading facility in Bruderheim, Alta., from Canexus Corp. Both companies are based in Calgary.
Originally called North American Terminal Operations, the facility, about 50 km northeast of Edmonton, has been renamed Bruderheim Energy Terminal.
Cenovus began moving oil through the terminal last year and currently transports crude oil from its Foster Creek steam-assisted gravity drainage operation to Bruderheim via the Cold Lake pipeline. The terminal also has connections to the Access crude oil pipeline and links to the Canadian Pacific and Canadian National rail lines.
“The acquisition is part of Cenovus’s strategy to build a strong portfolio of transportation options to help maximize market access and capture global prices for its oil,” the company said.