Keyera marks opening of KAPS natural gas pipeline, its largest project to date

CALGARY — Keyera Corp. is marking the opening of its KAPS pipeline, a 575-kilometre pipeline in Alberta which will provide additional transportation capacity to natural gas producers in Western Canada.

The recently completed KAPS pipeline will transport 350,000 barrels per day of natural gas liquids and condensate from the Montney and Duvernay production basins to Keyera Corp.’s liquids processing and storage hub in Fort Saskatchewan, northeast of Edmonton.

KAPS is operated by Keyera — one of Canada’s largest independent midstream energy infrastructure businesses — and 50 per cent owned by Stonepeak, an alternative investment firm specializing in infrastructure and real assets.

Keyera says the pipeline will advance Alberta’s energy industry by allowing producers to grow natural gas production.

Canada is the world’s fifth-largest producer and fourth-largest exporter of natural gas.

U.S. benchmark Henry Hub prices for natural gas are at a seven-month high, with the November futures contract up six cents Wednesday at US$3.01 per mmBTU.

This report by The Canadian Press was first published Oct. 4, 2023.

Companies in this story: (TSX:KEY)

The Canadian Press

News from © The Canadian Press, 2023. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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