Competition Bureau challenging Keyera deal with Plains All American Pipeline
The regulator says the merger would reduce competition at Fort Saskatchewan and could raise prices, with the case now going before the Competition Tribunal.
- On Tuesday, the Competition Bureau announced it is challenging Keyera Corp.'s proposed acquisition of the Canadian natural gas liquids business of Plains All American Pipeline, citing competitive concerns at Fort Saskatchewan, Alberta.
- Interim commissioner of competition Jeanne Pratt says the bureau aims to protect competition at the energy hub, as the deal would leave Keyera and Pembina Pipeline Corp. as sole operators.
- Valued at $5.15-billion, the deal includes 193,000 barrels per day of "fractionation capacity," 23 million barrels of storage capacity, and more than 2,400 kilometres of pipeline infrastructure.
- Keyera shares fell 7.6% on Tuesday following the announcement, while the company stated the "transaction will strengthen competition across the basin and provide customers with improved access to key markets."
- The case will now proceed to the Competition Tribunal as the regulator seeks an order to preserve competition; analyst Spiro Dounis of Citigroup Global Markets Inc. noted a negative ruling could require partial divestiture.
19 Articles
19 Articles
Competition Bureau advises against natural gas liquids merger in Fort Saskatchewan, Alta.
The Competition Bureau is advising against a merger between Calgary-based Keyera Corp. and Plains All American Pipeline L.P. at Fort Saskatchewan’s natural gas liquids processing hub. After an investigation, the bureau found the transaction would harm competition.
The Toronto Star
Competition Bureau says Keyera-Plains natural gas liquids deal would hurt industry
The regulator says the proposed transaction would reduce competition at Canada’s most important natural gas liquids hub at Fort Saskatchewan, Alta.
Keyera Faces Antitrust Hurdle in $2.8 Billion Plains NGL Deal as Competition Bureau Objects
Keyera (TSX: KEY) is facing a significant regulatory obstacle in its $2.8 billion acquisition of Plains’ Canadian natural gas liquids (NGL) business, with Canada’s Competition Bureau filing an application to the Competition Tribunal to challenge the deal just days before its expected closing in May 2026. The Calgary-based energy infrastructure company confirmed the Commissioner of […]
Plains All American Pipeline and Plains GP Holdings Provide Update on the NGL Sale Process - Energy News, Top Headlines, Commentaries, Features & Events
HOUSTON, May 05, 2026 (GLOBE NEWSWIRE) — Plains All American Pipeline, L.P. (Nasdaq: PAA) and Plains GP Holdings (Nasdaq: PAGP) (collectively, “Plains”) today provided an update on the expected timing for completion of the Canadian NGL business divestiture to Keyera Corp (“Keyera”). PAA and certain of its affiliates have received a filing from the Canadian Competition Bureau challenging the proposed ...
Coverage Details
Bias Distribution
- 55% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
