Keyera says deal for Plains assets taking longer than expected
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CALGARY – Keyera Corp. says its deal to buy the Canadian natural gas liquids business of U.S. firm Plains is taking longer than expected.
The company says the deal continues to advance through the regulatory process, but it’s no longer expected to close by around the end of the first quarter of this year.
Keyera says it’s now working toward closing the transaction in May, based on the current status of the regulatory process.
Keyera chief executive Dean Setoguchi says the company continues to reaffirm the strategic rationale and expected value creation of the $5.15-billion deal which was announced in June 2025.
The assets to be acquired include 193,000 barrels per day of “fractionation capacity,” where gas and liquids are separated, as well as 23 million barrels of storage capacity and more than 2,400 kilometres of pipeline infrastructure.
It also covers gas processing operations and loading and logistics infrastructure, including Canadian and U.S. truck and rail terminals.
This report by The Canadian Press was first published March 30, 2026.
Companies in this story: (TSX:KEY)