Strong demand and rising prices for natural gas liquids (NGL) led to a surge in profits and capacity growth in British Columbia (BC) during the third quarter, Calgary-based Keyera Corp. said.

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“With more tailwinds than we’ve seen in quite some time, we’re feeling encouraged and optimistic about the future,” said President Dean Segoguchi of the 3Q2021 results. “Hard work we’ve done during the downturn set us up to benefit from the industry recovery.”

Keyera has set a 2023 target date to complete the C$1.6 billion ($1.3 billion) Key Access Pipeline System (KAPS) in time to serve spin-offs from liquefied natural gas and pipeline projects now under construction in BC. KAPS construction was delayed last year by Covid-19.

KAPS, a partnership with Energy Transfer Canada...