Dow Chemical to sell Canadian storage facility

26 November 2009 14:44  [Source: ICIS news]

TORONTO (ICIS news)--Dow Chemical has agreed to sell its hydrocarbon and brine storage facility at the Sarnia petrochemicals hub in southern Ontari to Provident Energy, the buyer said in a regulatory filing on Thursday.

Financial terms were not disclosed. The deal was expected to close in early 2010, Provident added.

Dow Chemical in 2006 decided to phase out all its manufacturing operations at Sarnia because of feedstock supply problems after ethylene deliveries through the Cochin pipeline from western Canada were halted. 

At the time, Dow said it expected to eventually sell the 1,000 acre cavern storage facility, which has capacity for 12.1m barrels,and related assets.

Calgary-based Provident is a natural gas liquids midstream services and marketing firm.

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By: Stefan Baumgarten
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