Alberta's
newest 575-kilometre-long pipeline supporting Canada's role on the global energy
stage
CALGARY,
AB, Oct. 4, 2023 /CNW/ - Keyera Corp. (TSX:
KEY) ("Keyera"), one of Canada's
largest independent midstream energy infrastructure businesses,
recently completed the KAPS pipeline – Alberta's newest natural gas liquids (NGLs)
and condensate pipeline spanning 575 kilometres, and supporting
Canada's role on the global energy
stage. KAPS is operated by Keyera and 50% owned by Stonepeak,
a leading alternative investment firm specializing in
infrastructure and real assets.
"KAPS is more than a pipeline, it's truly an energy
infrastructure solution that is helping to unlock partnership and
prosperity through a purposeful approach," says Dean
Setoguchi, President & CEO of Keyera. "The support KAPS has
received is a testament to both commercial need and the
listen-first approach Keyera takes with external stakeholders and
Indigenous communities. KAPS has been years in the making, and it
is the platform that propels us forward and lets us focus on what
we do best – supply responsibly produced Canadian
energy."
The KAPS pipeline will safely transport 350,000 barrels per day
of NGLs and condensate from the liquids-rich Montney and Duvernay basins to Keyera's liquids processing
and storage hub in Alberta's
Industrial Heartland, located in Fort
Saskatchewan. By providing a competitive transportation
alternative that allows producers to grow natural gas production,
KAPS is advancing Alberta's energy
industry. This highly desired industry pipeline solution is
designed to integrate services, generate more volumes, and expand
commercial opportunities; all of which drives benefit for
Alberta and fuels greater domestic
economic growth.
"The completion of the KAPS pipeline represents a significant
milestone in the expansion of natural gas production in Western
Canada. As natural gas continues to be a key contributor to
the global energy mix and energy transition, especially in
East Asia, we believe that KAPS
has a critical role to play," says Anthony
Borreca, Senior Managing Director at Stonepeak. "KAPS
has the ability to support decarbonization and energy security
goals on a local and global level and we look forward to continuing
to partner with Keyera as responsible stewards of this asset as
production gets underway."
Integral to the successful construction and completion of KAPS
was Keyera's engagement and partnerships with communities along the
pipeline route, including 10 municipalities, 22 Indigenous
communities and 60 Indigenous-owned or affiliated businesses.
Determining the pipeline route was a collaborative effort that
extended well beyond regulatory, environmental, safety and land
factors. It included input from traditional land use studies
from each Indigenous community, approximately 400 site visits with
Rights holders, and the approval of nearly 600 landowners and
occupants.
"This is such great news for Keyera, its partners, and for
Alberta," says the Honourable,
Danielle Smith, Premier of
Alberta. "KAPS is furthering
economic opportunity and prosperity for Indigenous partners and
communities as well as for the entire province. I'm excited to see
the positive impacts this project will have and the economic growth
we'll see in the years to come."
During construction, KAPS generated more than $650 million in labour income and 7.7 million
people hours. Now in service, KAPS plays a key role in positioning
Alberta as an integral conduit for
petrochemical and upgrading feedstock in the region and a
competitive world class destination for growth and investment today
and tomorrow.
"This year Keyera celebrated our 25th anniversary,
and we look forward to continuing to collaborate with the
communities along the KAPS pipeline route for the next 25," says
Setoguchi. "In recognition of today's celebration and in commitment
to these communities, we are investing $300,000 from our Keyera Connects Social
Investment Program into partnerships focused on capacity building
and sustainability."
Investor Inquiries
Dan
Cuthbertson, Director, Investor Relations
Dan_Cuthbertson@keyera.com
587-496-8028
Media Inquiries
Kayla Moyes
Kayla.moyes@talkshopmedia.com
250-218-9276
About Keyera: (TSX:KEY) As one of Canada's largest independent midstream
businesses, Keyera plays a crucial role in processing,
transporting, storing, and marketing clean-burning natural gas and
natural gas liquids that fuel society. With a dedicated team of
over 1,100 employees, we're committed to making positive, lasting
change in the areas we live and operate.
About Keyera Connects Social Investment Program: In
celebration of KAPS and to deepen our commitment to the communities
along the KAPS route, Keyera is investing a total of $300,000 to partner with organizations across our
three Keyera Connects Social Investment Pillars:
- Environmental Innovation: Project Forest, a non-profit
organization focused on rewilding local landscapes, to plant nearly
50,000 trees at the Wagner Natural Area close to the KAPS
right-of-way.
- Indigenous Reconciliation: Northern Alberta Institute of
Technology (NAIT) to support education and training for
Indigenous community members in alignment with priority employment
opportunities in the industry; Keyera looks forward to engaging
with the communities to ensure success for members who would like
to pursue this opportunity.
- Community Resiliency: Inside Education, Alberta's largest environmental and natural
resource education charity, to facilitate education and empowerment
of youth living in communities connected to KAPS.
Additional Information
For more information about Keyera, please visit our website at
www.keyera.com.
For more information about Keyera Connects, please visit our
website: Social Investment | Keyera Corp.
Municipal Endorsement Quotes
"On behalf of City Council and the people of Edmonton, welcome to the KAPS Pipeline
Celebration!
The Edmonton Metro Region is committed to building the
strongest and most resilient economy, founded on good policies that
provide opportunities for all. This ensures more people will be
included and fewer will be left behind.
Edmonton is getting bigger
every day. As we grow, we need to prioritize transforming how
energy is generated, how people move around the city and how
buildings are constructed. We will plan for a future that combines
a healthy city with the protection of our land, air, water and
biodiversity. And it's our industry partners that will help us
achieve this.
I commend Keyera Energy for its sustainable contributions to
our economy. You are helping build a more prosperous future and
fuelling modern life for all of us. Congratulations on the
completion of the KAPS Pipeline!"
- Amarjeet Sohi, Mayor, City of Edmonton
"It is with immense pride and excitement that we witness the
culmination of Keyera's KAPS Pipeline. This monumental project not
only symbolizes the growth and innovation of our province's energy
sector, but also showcases Alberta's Industrial Heartland as a
competitive, world-class destination for petrochemicals and
hydrogen. KAPS is pivotal in extending Alberta's reach in natural gas liquids and
condensate, marking the province as a crucial player in the global
energy landscape."
- Mayor Gale Katchur, City of
Fort Saskatchewan
"The M.D. of Greenview No. 16 is proud to support Keyera's
KAPS Pipeline and the significant platform it creates to secure
future investment in our region. This pipeline is critical in
ensuring market access of our region's condensate and petroleum
liquids products and our advantages in attracting investment,
growth, and job creation, driving benefits for our region and all
of Alberta. Congratulations,
Keyera on this momentous achievement."
-
Tyler Olsen, Reeve, Municipal
District of Greenview
"Strathcona County highly values the work Keyera does in our
Alberta Industrial Heartland, and the completion of the KAPS
pipeline only furthers your commitment to our area.
KAPS is bringing highly valuable condensate and petroleum
liquid products and feedstocks to the Heartland region. This will
further underpin Strathcona County's value proposition related to
attracting global energy investments and growth in our region. The
resulting investments and job creation are important to our
community."
- Mayor Rod
Frank, Strathcona County
"The County of Grande
Prairie proudly celebrates the positive impact of Keyera's
KAPS Pipeline, securing market access for our condensate and
petroleum liquids. This project strengthens our local economy,
attracts vital investments, and fosters job creation, benefiting
both our region and all of Alberta. Congratulations to Keyera on the KAPS
pipeline; this significant achievement enhances our region's
position in the global energy landscape."
-
Reeve Bob Marshall, County of Grande
Prairie
SOURCE Keyera Corp.