Trans Mountain Corp. reported the Alberta-to-Vancouver crude line operated at roughly 94 per cent capacity in the second quarter, carrying an average of 840,000 barrels per day during the three months ended June 30. The figure marks a clear increase from the same period a year earlier, when the pipeline handled an average of 703,000 barrels per day.
Expansion capacity shows near-term demand
The pipeline has been in service since the 1950s. An expansion that tripled its capacity to 890,000 barrels per day came into service in 2024, enabling the higher throughput. Trans Mountain said about two-thirds of the oil moving on the system is loaded onto tankers bound for Asian markets, with the remainder serving the U.S. Pacific Northwest and the B.C. Lower Mainland.
Quarterly finances and federal payments
For the quarter, Trans Mountain posted net income of $138 million, down from $150 million a year earlier, while revenues rose to $808 million from $719 million. The Crown corporation also said it paid $450 million to the federal government in the second quarter in the form of interest and dividends.
“Trans Mountain was built to connect Canadian crude oil to global markets and generate long-term value for Canadians. The second quarter demonstrated that we’re doing exactly that,” said Mark Maki, Trans Mountain’s chief executive.
Policy and project implications for Alberta
Beyond the immediate numbers, the corporation has been enlisted by the Alberta government to develop, build and operate a proposed new West Coast oil pipeline to southern B.C. The provincial proposal would largely follow the path of the existing line. Alberta expects the federal government to designate the project as one of national importance this fall, a step the province says would allow for an accelerated review.
Cost estimates for the proposed route have been presented in a range between $35 billion and $44 billion. That estimate was included in the reporting on the file; the Crown corporation’s quarterly results do not alter those figures.
Key figures at a glance
| Metric | Q2 (2026) | Q2 (2025) |
|---|---|---|
| Average throughput (bbl/d) | 840,000 | 703,000 |
| Capacity after expansion (bbl/d) | 890,000 | |
| Net income | $138 million | $150 million |
| Revenues | $808 million | $719 million |
| Payments to federal government | $450 million (interest and dividends) | |
What this means for Alberta producers and markets
Operating at roughly 94 per cent of expanded capacity signals strong demand for additional pipeline access to tidewater, particularly for barrels destined for overseas buyers. For Alberta producers, higher throughput can ease domestic storage pressures and improve access to price differentials that favour markets beyond the U.S.
At the same time, the financial snapshot shows growing revenue alongside a modest decline in net income year over year — a reminder that large infrastructure operations are balancing higher volume with financing, operating and payment obligations to the Crown.
- Throughput: 840,000 bbl/d in Q2, up from 703,000 bbl/d a year earlier.
- Capacity: Expansion to 890,000 bbl/d came online in 2024.
- Federal payments: $450 million in interest and dividends paid in the quarter.
How Ottawa responds to Alberta’s push to declare the next West Coast project a national priority will be watched closely in industry and political circles. A national-interest designation could accelerate permitting and review, but it would not remove political and commercial hurdles inherent in any major energy infrastructure build.
For now, the Trans Mountain system is moving near-capacity volumes and generating sizeable revenue for the Crown — tangible results the corporation and provincial officials cite as evidence of the benefits of greater pipeline access to global markets.
