{"id":315447,"date":"2025-11-30T01:23:31","date_gmt":"2025-11-30T01:23:31","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/315447\/"},"modified":"2025-11-30T01:23:31","modified_gmt":"2025-11-30T01:23:31","slug":"trans-mountain-pipeline-on-track-to-funnel-1-7-billion-into-federal-coffers","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/315447\/","title":{"rendered":"Trans Mountain pipeline on track to funnel $1.7-billion into federal coffers"},"content":{"rendered":"

Open this photo in gallery:<\/a><\/p>\n

Crude oil tankers are seen docked at the Trans Mountain Westridge Marine Terminal, where crude oil from the expanded Trans Mountain pipeline is loaded onto tankers, in Burnaby, B.C., June, 2024.DARRYL DYCK\/The Canadian Press<\/p>\n

Trans Mountain Corp. is on track to return $1.7-billion to the federal government this year, owing to higher-than-expected volumes on the pipeline system and less capital spending than it had predicted. <\/p>\n

The government-owned pipeline company reported adjusted earnings before interest, taxes, depreciation and amortization of $591-million in the third quarter, compared with $512-million in the same period of 2024. It returned $314-million to the federal government, consisting of $151-million in interest payments and $163-million in cash dividends.<\/p>\n

\u201cIt was a long, tortured process\u201d to get the Trans Mountain<\/a> expansion completed, but it\u2019s now doing what it is supposed to do \u2013 returning money to Canada\u2019s coffers, chief executive officer Mark Maki told The Globe Friday. <\/p>\n

Since the expansion came on line in 2024, it has reined in the differential between Canadian and higher U.S. oil prices, thereby increasing revenues to Canada. It has also boosted access to Asian markets, Mr. Maki said. <\/p>\n

Morneau asked future CEOs to weigh in on Trans Mountain pipeline purchase. Here\u2019s how it went<\/a><\/p>\n

An average of 777,000 barrels per day flowed through the pipeline system in the third quarter, up from 692,000 bpd over the same period last year. Utilization for the quarter was 87 per cent, bringing it to 84 per cent year-to-date.<\/p>\n

Increased use of the line was a result of market forces and Trans Mountain\u2019s concerted effort to ensure the system can perform at its maximum 890,000 bpd capacity when it needs to, Mr. Maki said. <\/p>\n

The Crown corporation is looking to increase the capacity of the pipeline system even further through various projects to boost capacity by a collective 360,000 bpd, or roughly 40 per cent. <\/p>\n

Trans Mountain wants to introduce drag-reducing agents into the pipeline system to reduce friction between the oil and the line itself, for example, which has the potential to increase capacity by up to 10 per cent, or 90,000 bpd. <\/p>\n

Mr. Maki expects a final investment decision on that work next year. <\/p>\n

The company is also eyeing a larger optimization project for the line, which would include adding 30 kilometres of new, 36-inch diameter pipe adjacent to the existing main line and 11 new pump stations along the route. It would also increase power to the line to make pump stations more effective.<\/p>\n

Opinion: As pipeline politics begin anew, Ottawa must fast-track the courts<\/a><\/p>\n

A final decision on that project will likely be made in late 2026 or early 2027, Mr. Maki said. <\/p>\n

British Columbia<\/a> has said it backs the proposal<\/a> to boost capacity on the line \u2212 a sharp reversal from a government that once fiercely opposed the initial Trans Mountain expansion, arguing when it was proposed that increased shipping traffic would put B.C.\u2019s marine environment at risk.<\/p>\n

The province has also given a green light to the Vancouver Fraser Port Authority to dredge the Second Narrows waterway to allow tankers to load more oil at the Trans Mountain marine terminal in Burnaby.<\/p>\n

Boosting capacity on the line will ensure that Canadian commodities aren\u2019t stranded or sold into a market where there\u2019s a heavy discount, Mr. Maki said, and the B.C. government has been \u201cincredibly supportive\u201d ever since the U.S. began a trade war by imposing tariffs<\/a> on Canadian goods. <\/p>\n

Opinion: A blockbuster not-yet-agreement with the devil in the politics<\/a><\/p>\n

Still, the planned expansion won\u2019t meet the growing needs of the sector, he said \u2013 particularly if Alberta<\/a> meets its goal of doubling production. <\/p>\n

\u201cYou need something else, somewhere else, and so that\u2019s the process that the country\u2019s got to work through,\u201d Mr. Maki said. <\/p>\n

That\u2019s where the energy accord signed Thursday by Prime Minister Mark Carney<\/a> and Alberta Premier Danielle Smith<\/a> comes in. It aims to boosts Alberta\u2019s energy sector and diversify export markets in the face of U.S. President Donald Trump\u2019s trade war, laying the conditions for construction of a new oil pipeline<\/a> to the West Coast.<\/p>\n

Mr. Maki called the agreement \u201ca positive step for the country\u201d that will help meet Mr. Carney\u2019s ambition to make Canada into an energy superpower.<\/p>\n","protected":false},"excerpt":{"rendered":"Open this photo in gallery: Crude oil tankers are seen docked at the Trans Mountain Westridge Marine Terminal,…\n","protected":false},"author":2,"featured_media":315448,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[901,888,902,879,877,903,45,49,48,876,895,896,891,878,875,46,549,295,894,887,914,880,881,893,889,890,884,904,885,909,910,912,907,911,905,908,882,898,899,714,897,906,865,61,900,892,886,883,913],"class_list":["post-315447","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-alberta","tag-arts-news","tag-bc","tag-breaking-news","tag-breaking-news-video","tag-british-columbia","tag-business","tag-ca","tag-canada","tag-canada-news","tag-canada-sports","tag-canada-sports-news","tag-canada-trafficcanada-weather","tag-canadian-breaking-news","tag-canadian-news","tag-economy","tag-education","tag-environment","tag-federal-government","tag-foreign-news","tag-globe-and-mail","tag-globe-and-mail-breaking-news","tag-globe-and-mail-canada-news","tag-government","tag-life-news","tag-lifestyle","tag-local-news","tag-manitoba","tag-national-news","tag-new-brunswick","tag-newfoundland-and-labrador","tag-northwest-territories","tag-nova-scotia","tag-nunavut","tag-ontario","tag-pei","tag-photos","tag-political-news","tag-political-opinion","tag-politics","tag-politics-news","tag-quebec","tag-sports-news","tag-technology","tag-travel","tag-trudeau","tag-us-news","tag-world-news","tag-yukon"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/315447","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=315447"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/315447\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/315448"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=315447"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=315447"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=315447"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}