Pembina green-lights two pipeline projects, reports dip in quarterly earnings

A pumpjack draws out oil from a well head near Calgary, Alta., Saturday, Sept. 17, 2022. THE CANADIAN PRESS/Jeff McIntosh

CALGARY — Pembina Pipeline Corp. says it has decided to proceed with two pipeline expansion projects in British Columbia and Alberta as it announced a dip in fourth-quarter earnings.

The Calgary-based energy infrastructure company says earnings for the final three months of 2025 were $489 million, or 78 cents per share, compared to $572 million, or 92 cents per share, a year earlier.

Revenue fell to $1.91 billion from $2.15 billion during the same 2024 quarter.

• The information you need to know, sent directly to you: Download the CTV News App

Pembina says the two pipeline expansions it has sanctioned represent a total investment of $425 million and are set to come into service next year.

One $310-million project would see a new 95-kilometre pipeline that would ship 120,000 barrels per day of natural gas liquids between Birch and Taylor, B.C.

The firm has also decided to go ahead with an initial phase of a new pipeline connecting Taylor to a pump station in Gordondale, Alta., 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 said in a news release Thursday.

“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.”

This report by The Canadian Press was first published Feb. 26, 2026.

Companies in this story: (TSX:PPL)

The Canadian Press