Keyera buying Plains' Canadian natural gas liquids business for $5.15 billion

CBC News

· Posted: Jun 18, 2025 12:56 PM EDT | Last Updated: 7 hours ago

Keyera Corp. has agreed to bargain the Canadian earthy state liquids concern of U.S. steadfast Plains for $5.15 cardinal successful cash, a woody the Calgary-based infrastructure subordinate says volition assistance boost this country's vigor information and economical resilience.

The assets nether the woody see 193,000 barrels per time of "fractionation capacity," wherever state and liquids are separated, arsenic good arsenic 23 cardinal barrels of retention capableness and much than 2,400 kilometres of pipeline infrastructure.

The woody besides covers state processing operations and loading and logistics infrastructure, including motortruck and obstruction terminals successful Canada and the U.S.

"This transaction enhances our quality to service customers, seizure meaningful operational efficiencies and present sustainable semipermanent worth for shareholders, portion besides helping to reenforce Canada's presumption arsenic a planetary vigor leader," said Keyera CEO Dean Setoguchi.

Subject to conditions

The woody is expected to adjacent successful the archetypal 4th of 2026, taxable to customary closing conditions.

Keyera's concern is focused connected gathering, processing, transporting and selling earthy state and earthy state liquids, similar propane and butane. Natural state liquids, besides known arsenic condensate, tin besides beryllium utilized to dilute heavy oilsands bitumen truthful it tin beryllium transported via pipeline.

The Plains deal, which includes infrastructure successful Alberta, Saskatchewan, Manitoba and Ontario, helps Keyera make a afloat connected corridor for earthy state liquids stretching from westbound to east.

• 2023 | Keyera Corp. completes caller pipeline boosting Alberta's earthy state transport capacity

"By bringing these assets nether Canadian ownership, the transaction reinforces Canada's economical resilience by strengthening home infrastructure and helping to unlock the afloat imaginable of Canada's vigor future," Keyera said.

The national Liberal authorities has introduced authorities that would velocity on the regulatory process for infrastructure projects deemed successful the nationalist interest, arsenic U.S. President Donald Trump upends a erstwhile reliable cross-border trading narration with on-again, off-again tariffs.

Diversity important

Canadian vigor manufacture leaders person said the U.S. volition ever beryllium a cardinal lawsuit for their lipid and gas, but it's important to diversify to different markets and physique the proscription infrastructure needed to marque that happen.

Last week, Keyera announced an statement to treble the measurement of petroleum liquids it plans to export done a West Coast export installation being built by AltaGas Ltd.

AltaGas said successful February that Keyera had contracted 12,500 barrels per time of capableness to vessel the state to Asia via the Ridley Island Energy Export Facility adjacent Prince Rupert, B.C.

That is to emergence to 25,000 barrels per time nether 15-year tolling agreements.

The installation is to beryllium utilized to export propane and butane successful its archetypal phase, with the anticipation of expanding into ethane and different invaluable liquids successful the future.