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Trans Mountain pipeline operates at 94 per cent capacity in Q2
Trans Mountain Corp. reported that its pipeline transporting Alberta crude to the Vancouver area operated at 94 per cent capacity during the second quarter. The pipeline, which saw a capacity expansion in 2024 to 890,000 barrels per day, averaged 840,000 barrels of oil per day during the three months ending June 30, an increase from 703,000 barrels per day in the previous year.
Financial results for the quarter showed revenues rising to $808 million from $719 million, though net income fell slightly to $138 million from $150 million. As a Crown corporation, Trans Mountain paid $450 million to the Canadian federal government in interest and dividends during this period. Approximately two-thirds of the oil transported is destined for Asian markets via tanker, with the remainder serving the U.S. Pacific Northwest and the British Columbia Lower Mainland.
Additionally, the Alberta government has proposed a new West Coast oil pipeline to southern British Columbia, estimated to cost between $35 billion and $44 billion. Trans Mountain Corp. has been tasked with the development and operation of this project, which is expected to undergo a federal review this fall.
Entities
Alberta · Alberta government · British Columbia · Canada · Government of Canada · Mark Maki · Trans Mountain Corp.
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] Approximately two-thirds of the oil transported via the pipeline is destined for Asian markets. edmonton.citynews.ca · boereport.com · www.castanet.net
- [● 3 SOURCES] The Crown corporation paid $450 million to the federal government in interest and dividends during the second quarter. edmonton.citynews.ca · boereport.com · www.castanet.net
- [● 3 SOURCES] Net income for the second quarter was $138 million, down from $150 million. edmonton.citynews.ca · boereport.com · www.castanet.net
- [● 3 SOURCES] The Alberta government has proposed a new West Coast oil pipeline to southern British Columbia. edmonton.citynews.ca · boereport.com · www.castanet.net
- [● 3 SOURCES] Revenues for the second quarter rose to $808 million from $719 million in the previous year. edmonton.citynews.ca · boereport.com · www.castanet.net
- [● 3 SOURCES] The Trans Mountain pipeline operated at 94 per cent capacity during the second quarter. edmonton.citynews.ca · boereport.com · www.castanet.net
- [● 3 SOURCES] The pipeline carried an average of 840,000 barrels of oil per day during the three months ended June 30. edmonton.citynews.ca · boereport.com · www.castanet.net
- [● 3 SOURCES] The estimated cost of the proposed new pipeline is between $35 billion and $44 billion. edmonton.citynews.ca · boereport.com · www.castanet.net
- [● 3 SOURCES] Trans Mountain paid $450 million in interest and dividends to the Canadian federal government during the second quarter. edmonton.citynews.ca · boereport.com · www.castanet.net
- [● 3 SOURCES] Second-quarter revenues rose to $808 million from $719 million, while net income decreased to $138 million from $150 million. edmonton.citynews.ca · boereport.com · www.castanet.net
- [● 3 SOURCES] Approximately two-thirds of the oil transported by the pipeline is sent to Asian markets via tanker. edmonton.citynews.ca · boereport.com · www.castanet.net
- [● 3 SOURCES] A pipeline expansion that increased capacity to 890,000 barrels per day entered service in 2024. edmonton.citynews.ca · boereport.com · www.castanet.net