Apollo to Acquire 40% Stake in Pembina Gas Infrastructure Platform

Apollo-managed funds will acquire a 40% stake in Pembina Gas Infrastructure, a major Western Canadian gas processing and pipeline platform, marking a key midstream investment shift.

(P&GJ) — Apollo-managed funds have agreed to acquire a 40% interest in Pembina Gas Infrastructure Inc. (PGI), a major Western Canadian gas processing and pipeline platform, from funds managed by KKR.

Pembina Pipeline Corp. will retain its 60% ownership stake and continue to operate and manage the assets, with governance remaining unchanged following the transaction.

PGI is one of the largest independent gas processing platforms in Western Canada, with approximately 5 billion cubic feet per day of processing capacity. The system includes 23 gas processing plants, about 3,900 kilometers (roughly 2,400 miles) of gathering pipelines, and approximately 330,000 barrels per day of natural gas liquids extraction capacity.

The platform is connected to key transmission systems and serves producers across the Montney and Duvernay plays in Alberta and British Columbia.

Apollo said the investment reflects an opportunity to expand within North American energy infrastructure and support future development projects tied to growing demand.

“PGI is a premier Canadian platform with assets supporting key industrial end markets,” said Scott Browning, a partner at Apollo.

PGI President and CEO Heather Christie-Burns said the company will continue focusing on expanding the platform.

“Apollo’s expertise in infrastructure makes it an ideal partner for this next phase of growth,” she said.

Pembina President and CEO Scott Burrows said the company remains committed to the long-term development of the platform.

“PGI is a cornerstone of Pembina’s integrated midstream business,” Burrows said.

The transaction is expected to close in the second quarter of 2026, subject to customary conditions.