Keyera Corp. has announced closing of the acquisition of the remaining 50 percent non-operating interest in the KAPS Pipeline from Stonepeak, an alternative investment firm specializing in infrastructure and real assets, for $1.2 billion, pursuant to the terms of a definitive agreement dated June 17. The transaction was closed concurrent with the announcement.
Keyera now owns and will continue to operate 100 percent of the KAPS Pipeline, a highly strategic natural gas liquids (NGL) pipeline system connecting growing condensate and NGL production from the Montney and Duvernay resource in Canada plays to high-value downstream markets. Since 2025, Keyera has added more than 120,000 barrels per day of new commitments across KAPS Zones 1 to 4 from high quality counterparties supporting stable, long-term fee-based cash flow1 growth. KAPS Zone 4 construction continues to be on time and on budget with an expected mid-2027 in-service date.
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