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Keyera Acquires Remaining 50% Interest in KAPS Pipeline from Stonepeak in $860 Million Deal

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Canadian midstream company Keyera on Wednesday said it has completed the acquisition of the remaining 50% non-operating interest in the KAPS Pipeline from alternative investment firm Stonepeak for CA$1.215 billion ($860 million).

The company will continue to be the sole operator of the natural gas liquids pipeline, which connects condensate and NGL output from the Montney and Duvernay plays to downstream markets, Keyera said in a statement.

The Calgary-based company said it has secured new commitments for over 120,000 barrels per day across KAPS Zones 1-4 since 2025, which supports long-term fee-based cash flow.

The KAPS Zone 4 construction remains on schedule and within budget, with operations expected to begin in mid-2027, it added.

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