Stonepeak, a North America focused private equity firm, agreed to acquire a 50% stake in KAPS, a Canadian natural gas liquids pipeline system, from Pembina Pipeline, an energy transportation and midstream provider, for $663m. “We believe that 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 – natural gas production growth in Western Canada will play a critical role in those efforts. In our view, this makes KAPS a strong fit for Stonepeak’s opportunities strategy. We look forward to working closely with Keyera and the KAPS team as a trusted partner who is committed to the responsible ownership of traditional hydrocarbon infrastructure that plays a critical role in the global energy transition,” Anthony Borreca, Stonepeak Senior Managing Director.