Stonepeak Partners LP agreed this week to buy a half-stake in a new pipeline system that would move natural gas liquids (NGL) and byproducts from the Montney and Duvernay formations in Western Canada.

Stonepeak

Stonepeak bought the stake in the Key Access Pipeline System (KAPS) via Pembina Gas Infrastructure Inc. (PGI), a partnership owned 60% by Pembina Pipeline Corp. and 40% by KKR Global Infrastructure Funds.

“North American hydrocarbons, particularly natural gas, will continue to be an important component of the global energy mix for the foreseeable future, especially as efforts to decarbonize East Asia continue,” said Stonepeak senior managing director Anthony Borreca. He said natural gas production growth in Western Canada “will play a critical role in those efforts.”

The...