Overview

• Keyera agreed to acquire Plains All American’s Canadian NGL business and select U.S. assets for C$5.15 billion, encompassing over 2,400 km of pipelines, 193,000 bbl/day of fractionation capacity and 23 million barrels of storage.
• The transaction is expected to close in the first quarter of 2026 and will boost Keyera’s enterprise value by roughly 46% to C$19 billion while generating C$100 million in savings and lifting distributable cash flow by a mid-teens percentage.
• By repatriating these assets under Canadian ownership, Keyera aims to strengthen domestic energy security and economic resilience by retaining value and decision-making within Canada.
• The acquisition will unite infrastructure across Alberta, Saskatchewan, Manitoba and Ontario, creating a coast-to-coast NGL corridor that enhances system integration and customer reach.
• Keyera has also doubled its West Coast export capacity for liquefied petroleum gas to 25,000 bbl/day under a 15-year tolling agreement with AltaGas Ltd., opening new markets in Asia.