Trans mountain pipeline runs at 94% capacity in second quarter

Trans Mountain Corp. says its pipeline system operated at 94 per cent of capacity during the second quarter as shipments of Alberta crude to the Vancouver area continued to rise.

The Trans Mountain pipeline, which has been operating since the 1950s, underwent a major expansion that entered service in 2024. The expansion nearly tripled the system’s capacity to 890,000 barrels per day.

During the three months ending June 30, the pipeline transported an average of 840,000 barrels of oil per day, a significant increase from 703,000 barrels per day during the same period last year.

Despite higher volumes and revenues, the Crown corporation reported a slight decline in quarterly profit. Net income fell to $138 million, compared with $150 million a year earlier.

Revenue, however, increased to $808 million, up from $719 million in the second quarter of the previous year.

Trans Mountain also said it paid $450 million to the federal government during the quarter through a combination of interest and dividend payments.