Pembina Pipeline Secures Stake in Proposed West Coast Oil Pipeline

Pembina Pipeline Corp. has entered a non‑binding agreement to acquire a 10% interest in the proposed West Coast oil pipeline during its construction phase, with an option to increase its stake by up to an additional 10% once the project reaches commercial operation. CEO Scott Burrows said the investment aligns with the company’s strategy to expand its presence in the basin and improve production and netback for customers.

The pipeline, to be built and operated by Crown‑owned Trans Mountain Corp., is estimated to cost between $35 billion and $44 billion, with roughly 90% of funding coming from the Canadian federal and provincial governments. Designation as a project of national interest under the Building Canada Act is expected by Oct. 1. Analysts project the line will boost Canada’s oil exports by about 20% and more than double tanker shipments to Asia. Pembina also noted progress on its Cedar LNG project in Kitimat, B.C.