Calgary-based Keyera has finalized its acquisition of all of Plains' Canadian NGL (Natural Gas Liquids) business, including the Sarnia Frac Plant and Storage Facility.
Director of External Affairs Brandon Wood said the $5.3 billion transaction strengthens domestic energy capacity.
"We're really, really, excited about this transaction and this acquisition," Wood said. "We really do believe that it enhances domestic energy, infrastructure and energy security. It supports economic resilience and establishes a strong cross Canada NGL corridor, which will connect western supply to key demand centres in the prairies, in Ontario, and also the eastern U.S."
He said combining complementary infrastructures, from west to east, will provide reliable, efficient and secure energy solutions for Canadian customers, industry and export partners.
"The Sarnia Frac Plant and Storage Facility are a critical part of this value chain and integrated system," Wood said. "It's our belief that this transaction brings key NGL infrastructure under Canadian ownership and that's really key, especially in today's day and age. Strengthening domestic energy capabilities and reinforcing Canada's economic resilience by keeping value and decision making closer to home."
Wood calls it a "great Canadian story."
"With this acquisition the decision making and the cash generated from these Canadian operations will remain in the hands of a Canadian company, led by Canadian management and board, instead of being sent down to the U.S." he said.
He said Keyera sees a lot of opportunities to continue to grow in Canada and redeploy its capital here.
"Looking at it from a community and Sarnia specific perspective, it is still very much early days for us," said Wood. "We are very excited to get to know the team a little bit more, get to learn the operations. We actually have senior leaders travelling to the site this week and from an employee and staffing position, generally speaking, the team looks the same as it did before the acquisition."
Wood said core operations and support services were retained at the Plank Road site.
“There are over 90 full time employees at the Sarnia Frac Plant and Storage Facility," he said. "This number represents both union and non-union employees. As we continue to integrate these assets, we remain committed to the safe and reliable operations of the facility and all obligations under our union agreements.”
Wood said Keyera's commitment to sustainability, partnerships with local communities and Indigenous reconciliation and engagement will also continue to be at the forefront as the assets are integrated.
He said Keyera has been actively preparing for integration since the transaction was originally announced in June, 2025.
