Calgary-based Pembina Pipeline Corp. has sanctioned two major pipeline expansion projects in British Columbia and Alberta, even as it disclosed a decline in fourth-quarter earnings.

Earnings for the last three months of 2025 reached $489 million, or 78 cents per share, down from $572 million, or 92 cents per share, recorded in the prior year’s corresponding period. Revenue also dropped to $1.91 billion from $2.15 billion.

Details of Approved Projects

The two expansions require a combined investment of $425 million and are slated to begin operations next year.

The larger initiative, valued at $310 million, features a new 95-kilometer pipeline designed to transport 120,000 barrels per day of natural gas liquids from Birch to Taylor in British Columbia.

Additionally, Pembina greenlit the first phase of a pipeline linking Taylor to a pump station in Gordondale, Alberta, with costs totaling $115 million.

CEO Highlights Collaboration

“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.”