Keyera Corp to acquire Canadian NGL business from Plains All American Pipeline
On June 17, 2025, Keyera announced plans to acquire Plains All American Pipeline's NGL business in a C$5.15 billion deal. The acquisition enhances Keyera's status as a top Canadian energy infrastructure company by establishing a fully integrated NGL corridor that spans from western to eastern Canada. This move not only brings these assets under Canadian ownership but also bolsters the country's economic resilience by fortifying domestic infrastructure and unlocking the full potential of Canada's energy future. With significant NGL infrastructure in Alberta, the combined platform provides access to high-demand markets through LPG export capabilities on the West Coast and reaches key consumption hubs in eastern Canada and the United States. The acquired assets encompass NGL extraction, fractionation, storage, and rail and truck terminals located across Alberta, Saskatchewan, Manitoba, and Ontario.
Keyera Corp., headquartered in Calgary, Alberta, is a leading company specializing in the gathering, processing, transportation, storage, and marketing of natural gas liquids.
Plains All American Pipeline, L.P. based in Houstan, Texas is a company that engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids.
McCarthy Tetrault advised Keyera with a team led by Jason Gudofsky that included, Debbie Salzberger, Gideon Kwinter, Alykhan Rahim and Lucinda Chitapain (Competition/Antitrust).
