Sidley Represents Stonepeak Partners in Its Interest Acquisition in KAPS

Sidley represented Stonepeak Partners LP in its agreement to acquire a 50 percent interest in KAPS, a Canadian natural gas liquids (NGL) pipeline system connecting Northwest Alberta to energy hubs in Edmonton and Fort Saskatchewan. Keyera Corp. will continue to own the remaining 50 percent of KAPS and operate the asset.

KAPS is an approximately 560 kilometer dual pipeline system linking Montney and Duvernay production in Western Canada to Keyera’s fractionation and logistics assets in Fort Saskatchewan. KAPS provides a competitive transportation alternative that allows producers to grow their natural gas production in advance of additional LNG in-service both in Western Canada and the U.S. Gulf Coast. The project strengthens the economic viability of Western Canadian LNG facilities, whose product reaches Asian markets with approximately 30 percent reduced shipping emissions relative to U.S. Gulf Coast originated routes.

The Sidley team was led by partner Tim Chandler, managing associate Cedric Seley, and associate Sean Valentine. Additional support was provided by partners Nicholas Schwartz and Kristen Smith (both Global Finance), Daniel Allison (Energy and Infrastructure), Angela Richards (Tax), Sara Shouse (Investment Funds), and Heather Palmer (Environmental), along with counsel Josh Sutton, managing associate Mahalia Doughty, and associate Veronica Courtney (all Energy and Infrastructure), as well as Joseph Hansik Ha and John Jiang (both Global Finance), Aaron Mitchell (Tax), Greta Carlson (Environmental), and Elizabeth Chen (Antitrust/Competition).