Keyera Corp. completes new pipeline

The recently completed KAPS pipeline will transport 350 000 bpd 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, Alta. northeast of Edmonton.

KAPS is operated by Keyera – one of Canada's largest independent midstream energy infrastructure businesses – and 50% owned by Stonepeak, an alternative investment firm specialising in infrastructure and real assets.

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

At an event celebrating the completion of the pipeline on Wednesday 4 October 2023, Keyera President and CEO Dean Setoguchi said it was "a milestone achievement in Keyera's history" and would be critical piece of infrastructure for Alberta.

"KAPS is more than a pipeline," Setoguchi said. "It's an energy infrastructure solution helping to unlock partnership and prosperity through purposeful approach."

Setoguchi said the company wants to build strong relationships in the communities in which it operates.

Premier Danielle Smith, speaking at the event in Fort Saskatchewan, said the project is important for the province's energy industry.

"Today we get to celebrate a truly fantastic milestone in our energy industry … the KAPS system means more good jobs in Alberta's industrial heartland and more dependable revenues for Indigenous partners."

Smith said the pipeline will help "safely move Alberta's energy where it needs to go."

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

US benchmark Henry Hub prices for natural gas are at a seven month high, with the November futures contract up six cents at US$3.01 per million Btu.

Read the article online at: https://www.worldpipelines.com/business-news/06102023/keyera-corp-completes-new-pipeline/