Nov 12 (Reuters) - Veresen Inc VSN.TO :
* Announces $140 million ethane storage facility development
* Salt cavern facility will have capacity to store approximately 1 million
barrels of ethane
* Facility will be connected via pipeline to veresen's Alberta ethane gathering
system
* Says the facility is expected to be in service in the second half of 2018
* Says once operational, Veresen expects storage facility will contribute
annual EBITDA in the range of $15 million to $18 million
* Co, Nova chemicals entered agreement where Nova will use the majority of the
storage capacity under a 20-year arrangement
* Expected capital cost of the storage facility and related infrastructure is
approximately $140 million
* Source text for Eikon ID:nMKWPRdm1a
* Further company coverage VSN.TO