Stonepeak sells KAPS Pipeline stake to Keyera

Stonepeak sold its remaining interest in KAPS Pipeline to Keyera, the midstream company that co-developed the Western Canadian natural gas liquids and condensate transportation system.

Keyera has operated the pipeline since its completion, and the transaction consolidates full ownership under the operator, giving the company complete control of the NGL infrastructure.

The acquisition simplifies the asset’s ownership structure and aligns with Keyera’s strategy of owning and operating its core midstream network, allowing the company to capture all cash flows from the system.