The Financial Post reports in its Saturday edition that merger and acquisition activity in Canadian oil and gas increased in the first half of the year, highlighted by Keyera's recent $5-billion deal with Plains All American Pipeline for its natural gas liquids (NGL) business. The Post's Meghan Potkins writes that this acquisition includes NGL plants, pipelines, storage, and rail terminals across Alberta, Saskatchewan, Manitoba and Ontario, marking a significant wave of consolidation in the industry. Keyera chief executive officer Dean Setoguchi says: "This was always No. 1 on our list. We tried to approach Plains over this opportunity many times, but they refused to even engage in any kind of discussions." Keyera bided its time, growing into one of Canada's largest mid-stream operators focused on NGLs and becoming an international exporter earlier this year after securing tolling contracts with a West Coast terminal that provides access to Asian markets. Mr. Setoguchi notes that Keyera has achieved a "win-win" deal with Plains, enabling Plains to focus on crude oil in the U.S. while Keyera expands its NGL distribution from Alberta to a key terminal in Sarnia, Ont., serving customers in Canada and the U.S. Midwest.