CALGARY – The Competition Bureau is challenging Keyera Corp.’s proposed deal to buy the Canadian natural gas liquids business of Plains All American Pipeline LP.
The regulator says the proposed transaction would reduce competition at Canada’s most important natural gas liquids hub at Fort Saskatchewan, Alta.
It says it is seeking an order from the Competition Tribunal to preserve competition.
The bureau says the deal would significantly increase market concentration in natural gas liquids processing and give the merged firm greater ability to increase prices, impose less favourable contract terms and reduce incentives to expand capacity.
Interim commissioner of competition Jeanne Pratt says the bureau wants to protect competition at a critical energy hub and ensure that Canadian producers are not harmed by increased concentration and reduced choice.
The assets to be acquired under the $5.15-billion deal first announced last year include 193,000 barrels per day of “fractionation capacity,” where gas and liquids are separated, as well as 23 million barrels of storage capacity and more than 2,400 kilometres of pipeline infrastructure.
This report by The Canadian Press was first published May 5, 2026.
Companies in this story: (TSX:KEY)