Stonepeak has announced the successful completion of its previously announced transaction to acquire a 50 % interest in KAPS. 

Keyera Corp. will maintain 50% ownership of KAPS, a natural gas liquids (NGL) pipeline system that links Northwest Alberta to energy centers in Edmonton and Fort Saskatchewan, Canada. Keyera Corp. will also continue to operate this asset. KAPS is a 560 km dual pipeline system connecting Montney and Duvernay production in Western Canada to Fort Saskatchewan. It has long-term, take-or-pay revenues, a broad customer base, and can expand to include additional pump stations if required. 

Stonepeak believes that KAPS can offer a competitive transport option, boost the economic feasibility of Western Canadian LNG plants, and reduce emissions at a local level by transporting NGLs via pipeline instead of trucks.