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CALGARY — Pembina Pipeline Corp. says its subsidiary Pembina Gas Infrastructure Inc. (PGI) has completed its previously announced acquisition of a 50 per cent stake in Whitecap Resources Inc.’s Kaybob complex natural gas processing facility.
The $420 million deal was announced in July 2024.
It included an agreement by Whitecap to enter into a long-term take-or-pay contract for PGI’s capacity in the Kaybob complex.
The Kaybob complex in Alberta includes 165 million cubic feet per day of natural gas processing capacity and condensate stabilization capacity of 15,000 barrels per day.
The deal also included an agreement by PGI to support future infrastructure development for Whitecap’s Lator area project.
PGI is a gas processing entity with operations in Western Canada, jointly owned by Pembina Pipeline Corp. and global investment firm KKR.
This report by The Canadian Press was first published Jan. 2, 2025.
Companies in this story: (TSX:TKTK)
The Canadian Press
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