Keyera will continue to operate the KAPS with a 50% stake. Credit: Robson Machado from Pixabay.

Alternative investment company Stonepeak has wrapped up the acquisition of a 50% stake in Canada’s Key Access Pipeline System (KAPS) from a subsidiary of Pembina Gas Infrastructure (PGI) for $484.8m (C$662.5m).

The deal between Stonepeak and PGI was announced in December 2022.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The KAPS is a natural gas liquids dual pipeline system that connects north-west Alberta to energy hubs in Edmonton and Fort Saskatchewan.

PGI is 60% owned by Canadian pipeline operator Pembina Pipeline while KKR’s global infrastructure funds own the remaining 40% stake.

Canada midstream company Keyera will continue to serve as the operator of KAPS with 50%.

Stonepeak senior managing director Anthony Borreca said: “We look forward to working closely with Keyera and the KAPS team as a trusted partner and responsible owner of this system that we believe will have an important role to play as the production of natural gas in western Canada continues to grow.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“In our view, natural gas will remain a key component of the global energy mix for the foreseeable future with critical associated infrastructure that requires thoughtful stewardship to ensure assets are operated in a sustainable manner. This is part and parcel of our approach to investing in the energy sector at Stonepeak.”

The 560km pipeline system links Montney and Duvernay production in western Canada to the fractionation and logistics assets of Keyera in Fort Saskatchewan.

Stonepeak said that the system can be expanded to include additional pump stations if the basin needs additional capacity.

The alternative investment company expects the KAPS to provide a competitive transportation alternative while strengthening the western Canadian LNG facilities’ economic viability.