Keyera Corp., one of Canada’s largest midstream companies, posted its Q3 2025 earnings and operational results on November 14 highlighting continued advancement of several initiatives that will be expanding its NGLs fractionation and transportation capabilities.
- The Keyera Fort Saskatchewan (KFS) Unit II fractionator debottleneck, planned to add 8 Mb/d of processing capacity, remains on track and on budget for completion by mid-2026.
- KFS Unit III construction is advancing for the new 47 Mb/d fractionator, which remains on schedule and budget for completion by mid-2028. Once the KFS II debottleneck and KFS III unit are complete, the company’s total fractionation capacity will reach 155 Mb/d, including de-ethanizer capabilities at the Fort Saskatchewan complex.
- Although not reported as part of the company’s quarterly results, the federal Impact Assessment Agency of Canada (IAAC) determined in late October that a comprehensive assessment of Keyera’s proposed 100 Mb/d Josephburg Condensate Fractionation Project is not required. This effectively gives a greenlight to Keyera from the IAAC to proceed with possible further development although the company has not provided a timeline for future work on this project.
- KAPS Zone 4, an extension of the company’s existing KAPS NGLs pipeline, remains on schedule and on budget for start up by mid-2027. On June 9, the company announced a positive FID for Zone 4 which will connect to the Northeast BC Connector Pipeline currently under construction by NorthRiver Midstream for transportation of up to 100 Mb/d of NGLs to the KFS complex for fractionation.
- Integration of the acquired Canadian NGLs assets of Plains Midstream Canada remains on track for completion and closure in the first quarter of 2026 (see Don’t Fence Me In for additional details).
