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Keyera Says $5.15 Billion Deal to Buy Plains’ Canadian Business to Help Energy Security
- On June 18, 2025, Keyera Corp. revealed plans to purchase Plains’ Canadian assets related to natural gas liquids for C$5.15 billion in cash, aiming to enhance the country’s energy infrastructure.
- The acquisition follows six months of negotiations and Plains' strategic decision to divest its Canadian NGL assets while retaining U.S. NGL and Canadian crude operations.
- The deal includes extraction, storage, pipelines, and rail terminals across Alberta, Saskatchewan, Manitoba, and Ontario, boosting Keyera’s system across ethane, propane, and other liquids.
- Keyera CEO Dean Setoguchi called this a "defining moment" expected to raise enterprise value by 46% to C$19 billion and save C$100 million, with closing expected in Q1 2026.
- The transaction will enhance Canadian energy security by keeping infrastructure domestic, expanding export access, and enabling Plains to focus on crude oil midstream operations with planned shareholder distributions.
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Keyera to Buy Plains' Canada NGL Business for $3.8 Billion
(Bloomberg) — Keyera Corp. agreed to buy Plains All American Pipeline LP’s Canadian natural gas liquids business and some US assets for C$5.15 billion ($3.77 billion) in cash, significantly bulking up its pipeline system around the country.
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Leaning Left10Leaning Right2Center5Last UpdatedBias Distribution59% Left
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- 59% of the sources lean Left
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L 59%
C 29%
12%
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