The solvents are used to soften bitumen.
A preliminary agreement that will see the companies build a rail-truck terminal near the Enbridge Cheecham terminal in Fort McMurray and a diluent pipeline near Edmonton that will supply oil sands projects and refineries.
Keyera will operate the rail-truck terminal and Enbridge would operate the Norlite pipeline which will be operational by 2015.
The South Cheecham terminal is expected to begin operations later this year and be operational by mid-2013.
Financial terms of the agreement have not been disclosed.
The two companies will own the terminal in a 50-50 partnership basis and the pipeline would be owned 70% by Enbridge and 30% by Keyera.