Calgary-based Pembina Pipeline Corp. has approved two major pipeline expansion projects in British Columbia and Alberta, coinciding with a decline in fourth-quarter earnings.
Quarterly Financial Performance
Earnings for the final three months of 2025 reached $489 million, or 78 cents per share, down from $572 million, or 92 cents per share, in the same period of 2024. Revenue dropped to $1.91 billion from $2.15 billion year-over-year.
Approved Pipeline Projects
The sanctioned expansions require a combined investment of $425 million and are scheduled to enter service in 2026. One initiative, valued at $310 million, involves constructing a new 95-kilometer pipeline to transport 120,000 barrels per day of natural gas liquids between Birch and Taylor in British Columbia.
The company also greenlit the initial phase of another pipeline linking Taylor, B.C., to a pump station in Gordondale, Alberta, at a cost of $115 million.
“This milestone reflects strong collaboration with both Indigenous and local communities built on trust and open engagement,” CEO Scott Burrows stated. “It also reflects strong engagement with the Government of British Columbia and the BC Energy Regulator, whose guidance and regulatory oversight have helped establish a clear and responsible path forward for this project and for sustainable development in the region in the future.”
