en.Wedoany.com Reported - Trans Mountain Corp. transported oil at 83% of its pipeline capacity in the first quarter, and expects that figure to rise to 90% in the second quarter.
The Calgary-based operator, which runs a pipeline from Alberta to the coast of British Columbia, transported an average of approximately 737,000 barrels per day during the first three months of 2026.
This figure is lower than the 757,000 barrels per day recorded in the same period last year, but the company attributed it to "temporary market factors, including reduced customer demand due to higher freight costs, as well as maintenance operations by Trans Mountain customers and third-party disruptions."
The quarterly report shows Trans Mountain's adjusted EBITDA was C$552 million, down from C$568 million in the same period last year. The company stated that the lower capacity and profits are short-term phenomena, with demand for the remainder of 2026 being "strong," and that Trans Mountain is "on track" to meet or exceed its financial and operational commitments for the year.
The report also noted that Trans Mountain paid C$448 million to its owner, the Government of Canada, in the first quarter, up from C$311 million in the same period last year. Since the pipeline expansion was completed in 2024, the operation has returned C$2.2 billion in cash to Ottawa.
In a statement, CEO Mark Maki noted that the pipeline "continues to play a vital role in transporting Canadian crude oil to global markets," while planning to add another 300,000 barrels per day of capacity. "The first 90,000 barrels per day are expected to come online in early 2027," Maki said.
The transportation of oil from Alberta to British Columbia, aimed at accessing Asian markets, has been a national focus. The federal and Alberta governments recently finalized elements of an energy agreement signed last year. The Alberta government has planned to begin construction of a potential new pipeline as early as September 2027, with delivery by 2033 or 2034, targeting a capacity of 1 million barrels per day.
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