Keyera Corp. acquires remaining 50% interest in KAPS Pipeline from Stonepeak for $1.2 billion
Type: Acquisition · Technology: Oil Gas · Country: Canada · Value: $1.2B · Announced: 2026-06-17
Keyera Corp. completed the acquisition of the remaining 50% non-operating interest in the KAPS Pipeline from Stonepeak for $1.2 billion, securing full ownership of the strategic natural gas liquids (NGL) pipeline system. The KAPS Pipeline connects growing condensate and NGL production from the Montney and Duvernay resource plays in Canada to high-value downstream markets, enhancing Keyera's midstream infrastructure portfolio. Since 2025, Keyera has secured over 120,000 barrels per day of new commitments across KAPS Zones 1 to 4, supported by high-quality counterparties, ensuring stable, long-term fee-based cash flow growth. Construction on KAPS Zone 4 remains on schedule and within budget, with an expected in-service date of mid-2027. The transaction underscores Keyera's strategic focus on expanding its NGL transportation capacity to meet rising production demands in Western Canada.
Counterparties
- Keyera Corp (Buyer)
- Stonepeak (Seller)