Apollo Acquires KKR's 40% Stake in Pembina Gas Infrastructure
Apollo Global Management is set to acquire a 40% stake in Pembina Gas Infrastructure from KKR. This transaction underscores a revitalization in the midstream gas sector driven by increased demand for liquefied natural gas (LNG).
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Apollo Global Management will acquire a 40% stake in Pembina Gas Infrastructure, a significant gas-processing firm in Canada, from KKR. The transaction is expected to close by the end of Q2, and Pembina Pipeline will retain a 60% majority stake.
Pembina Gas Infrastructure operates 23 gas-processing plants with a capacity of 5 billion cubic feet per day and can extract approximately 330,000 barrels per day of natural gas liquids. The deal reflects a resurgence in interest in the midstream gas sector, driven by rising LNG demand and supportive Canadian energy policies.
The Montney and Duvernay basins are anticipated to benefit from this renewed focus, further enhancing the attractiveness of Canadian assets. Investors are likely to see continued consolidation and growth opportunities in the sector.
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