Plank Road frac plant now under Canadian ownership after $5.3B deal

Plank Road facility becomes part of Canadian-owned energy network following major acquisition.

A major industrial facility on Sarnia’s Plank Road is now under Canadian ownership following the completion of a $5.3-billion acquisition by Calgary-based Keyera.

The company announced it has finalized its purchase of all Canadian natural gas liquids (NGL) assets previously owned by Plains All American Pipeline, including the Sarnia Frac Plant and Storage Facility.

The acquisition places a significant portion of Canada’s NGL infrastructure under Canadian management and ownership, with Keyera describing the deal as an expansion of domestic energy capacity and economic resilience.

The Plank Road facility plays a key role in transporting and processing natural gas liquids between Western Canada, Ontario and markets in the eastern United States. Keyera says the acquisition creates a more integrated cross-country NGL corridor linking supply and demand centres across Canada.

Company officials said the Sarnia facility remains an important part of that network and confirmed that operations and staffing at the site are largely unchanged following the transition.

More than 90 unionized and non-union employees continue to work at the Sarnia frac plant and storage operation. Keyera said senior leadership teams are already visiting the site as the company begins integrating the assets into its broader operations.

The company also stated that commitments surrounding safe operations, union agreements, sustainability initiatives, Indigenous engagement and local community partnerships will continue as the transition moves forward.