Trans Mountain Corp. says oil shipments through its pipelines reached 83 per cent of capacity in the first quarter and is expected to rise to 90 per cent in the second quarter.
The Calgary-based company that operates the pipeline from Alberta to the British Columbia coast says about 737,000 barrels of crude oil passed through the pipeline per day in the three-month period starting this year.
That is down from the 757,000 barrels per day reported in the same quarter last year, but the company says it is due to “temporary market factors, including lower customer demand due to higher freight rates, as well as Trans Mountain’s customers undertaking maintenance operations and third-party disruptions.
The quarterly report also showed that Trans Mountain had adjusted earnings of $552 million before interest, taxes and depreciation, down from $568 million from the same period last year.
The company says the lower capacity and earnings are short term, with demand “strong” for the remainder of 2026 and Trans Mountain is “on track” to meet or exceed its financial and operational commitments for this year.
The report also says Trans Mountain paid $448 million during the first quarter to its owner, the Canadian government, up from $311 million during the same period last year, and the operation has so far returned $2.2 billion in cash to Ottawa since the pipeline expansion was completed in 2024.
Chief executive Mark Maki says in a statement that the pipeline “continues to play an important role in moving Canadian crude oil to global markets,” and that planning is underway to boost capacity by another 300,000 barrels a day.
“The first 90,000 (barrels-per-day) is anticipated to be in service early in 2027,” Maki says.
Oil transport from Alberta to B.C. with the intent of reaching markets in Asia has been in the spotlight nationally, with the federal and Alberta governments recently finalizing elements of an energy accord signed last year.
The Alberta government has set the construction for a potential new pipeline to start as early as September 2027 and deliveries in 2033 or 2034, with a goal of shipping up to one million barrels a day.
This report by The Canadian Press was first published June 4, 2026.
The Canadian Press
