Keyera Corp. is purchasing Stonepeak’s remaining 50 percent stake in the KAPS pipeline for C$1.215 billion (around $860.5 billion), consolidating ownership of the NGL transportation asset.
The transaction was financed through Keyera’s existing credit facilities, and the company also plans to raise C$525 million (around $372 million) through a bought-deal equity offering. Keyera will continue development of the KAPS Zone 4 expansion, which is expected to enter service in mid-2027.
The KAPS pipeline transports natural gas liquids in western Canada and serves as a key piece of energy infrastructure supporting production and processing activity in the region.