Plains Delays Closing of Canadian NGL Business Sale to May

Plains All American expects to close its Canadian NGL business sale to Keyera in May, marking a step toward becoming a pure-play crude midstream company.

(P&GJ) — Plains All American Pipeline and Plains GP Holdings now expect to complete the sale of their Canadian natural gas liquids (NGL) business to Keyera Corp. in May, as the transaction continues through regulatory review.

The companies said the deal is progressing through approvals, including review by Canada’s Competition Bureau, with both parties continuing integration planning ahead of closing.

The divestiture is part of Plains’ broader strategy to streamline its portfolio and focus on crude oil infrastructure. Once completed, the company will operate as a more concentrated crude midstream business with assets spanning Canada to the U.S. Gulf Coast.