08:34 AM EDT, 07/15/2024 (MT Newswires) -- Gibson Energy ( GBNXF ) on Monday said it has extended a long-term contract with an investment grade global E&P company at its Gateway Terminal. The terms of the contract weren't released.

Gibson also approved a pipeline connection to the Cactus II Pipeline. The connection will provide Gateway Terminal customers with access to up to 700,000 barrels per day of incremental supply. Gibson expects to deploy $20 million in growth capital on the connection, which was included in the 2024 capital budget.