Keyera Corp. (TSE: KEY) announced Dec. 31 that it closed the acquisition of a 70.79% ownership interest in the Ricinus deep-cut gas plant in west central Alberta for about $56 million (C$65 million). The seller wasn't disclosed.
Keyera, based in Calgary, became the operator of the facility upon closing.
The Ricinus plant is located about 14 miles (22 kilometers) south of Keyera’s Strachan deep-cut gas plant, which is a sweet gas processing plant that extracts a C3+ mix of NGL. It currently processes about 124 million cubic feet per day, as only one of its two NGL processing trains is in operation.
Keyera plans to increase utilization at the Strachan plant in the future. It also plans to build a new pipeline between the Ricinus plant and Strachan plant, and to invest in associated gas gathering systems.
Recommended Reading
HNO International Enters $10MM Hydrogen Offtake Agreement
2025-01-30 - HNO International has agreed to supply hydrogen to a Texas-based company from its 1.25-megawatt hydrogen platform.
TGS to Evaluate Continental Shelf Offshore Wind Site
2025-01-29 - The Ramford Vanguard seismic vessel will be used to acquire data of shallow subsurface targets for wind farm development.
Ørsted, PGE Greenlight Baltica 2 Wind Project Offshore Poland
2025-01-29 - Ørsted said Baltica 2 is expected to be fully commissioned in 2027.
Plug Power CEO Sees Hydrogen as Part of US Energy Dominance
2025-01-29 - Plug Power CEO Andy Marsh says the U.S., with renewable energy resources, should be the world’s leading exporter of hydrogen as it competes globally, including with China.
TotalEnergies, STMicroelectronics Ink 1.5 TWh Renewable Power Deal
2025-01-28 - As part of the 15-year contract, TotalEnergies will provide solar and wind power to New York-based STMicroelectronics.