Calgary, Alberta--(Newsfile Corp. - March 25, 2026) - Trans Mountain Corporation ("Trans Mountain" or "TMC") today announced the launch of a binding Open Season to obtain incremental contracts for firm transportation service on its Pipeline System. The Open Season will run from April 7 to June 2, 2026, providing shippers with an opportunity to secure firm service on existing capacity between Edmonton, Alberta and delivery locations in British Columbia.
Through this Open Season, Trans Mountain will make additional contracted capacity available, which is expected to result in approximately 80 - 90% of the 890,000 barrels per day (bpd) Trans Mountain Pipeline System being contracted. Following the close of the Open Season, Trans Mountain intends to file an application with the Canada Energy Regulator for the required approvals.
"This Open Season for firm service reflects the strong commercial interest in the Trans Mountain Pipeline System and the confidence our customers have in its long-term value," said Mark Maki, Trans Mountain Chief Executive Officer. "We're going to increase contracted capacity and at the same time, we're advancing optimization projects that will add more than 30% incremental capacity. Trans Mountain is delivering on its promises to Canada, supporting our customers' evolving needs, and ensuring our system remains a critical piece of energy infrastructure the country."
The Firm Service Open Season is the first in a series of commercial processes planned over the next year. Future processes include the Drag Reducing Agent (DRA) Project which is expected to increase throughput by approximately 90,000 barrels per day (bpd) and be in service in early 2027, and the Mainline Optimization Project (MOP) which is expected to add approximately 210,000 bpd and be completed by the end of 2028.
Together, the DRA and MOP projects will add approximately 300,000 bpd, increasing total system capacity from approximately 890,000 bpd to 1,190,000 bpd.
Forward-looking information:
This news release contains certain statements that constitute forward-looking information within the meaning of applicable Canadian securities laws ("forward-looking information"). Forward-looking information is not historical fact, but instead represents the current expectations of TMC regarding future operating results and other future events relating to TMC, many of which, by their nature, are inherently uncertain and outside of the control of TMC. Forward-looking information can be identified by words or phrases such as "will", "may", "expect", "anticipate", "believe", "intend", "plan", "seek", "aim", "potential", "should", "would" and similar words or expressions. Forward-looking information in this news release includes, but is not limited to: timing for the Open Season; expectations regarding the availability of additional contracted capacity through the Open Season and other optimization projects; timing for regulatory approvals; planned commercial processes and the expected increase in system capacity resulting from the optimization projects. Actual results could differ materially from those anticipated in the forward-looking information. The forward-looking information in this news release is based on certain assumptions that TMC has made regarding, among other things: market conditions; economic conditions; prevailing governmental policies; regulatory, tax, and environmental laws and regulations; inflation rates and commodity prices including future demand for energy; future demand for space on TMC's pipeline system; regulatory processes; commercial negotiations; interest, tax and foreign exchange rates; and expected cash flows and availability of funds. Although TMC believes the assumptions and other factors reflected in the forward-looking information are reasonable as of the date hereof, there can be no assurance that these assumptions and factors will prove to be correct and, as such, forward-looking information is not a guarantee of future performance. Forward-looking information is subject to a number of known and unknown risks and uncertainties that could cause actual events or results to differ materially, including, but not limited to: the regulatory environment and decisions, including the outcome of regulatory hearings; the available supply and price of energy commodities; TMC's ability to successfully implement its strategic priorities; the operating performance of TMC's pipelines and related assets; performance and credit risk of TMC's counterparties; the geopolitical environment; actions taken by governmental or regulatory authorities; changes in laws; the occurrence of unexpected events such as fires and severe weather conditions; cyber-attacks and other accidents or similar events and adverse general economic and market conditions or other risk factors, many of which are beyond the control of TMC. The foregoing list of assumptions and risk factors should not be construed as exhaustive. The forward-looking information contained in this news release speaks only as of the date hereof. TMC does not undertake any obligation to publicly update or revise any forward-looking information contained herein, except as required by applicable laws. All forward-looking information contained in this news release is expressly qualified by this cautionary statement.
About Trans Mountain
Trans Mountain Corporation (together with its wholly-owned subsidiaries, "Trans Mountain") operates Canada's only pipeline system transporting oil products to the West Coast of Canada. Trans Mountain is a wholly owned entity of Canada TMP Finance Ltd., a subsidiary of Canada Development Investment Corporation (CDEV), the entity which holds the Government of Canada's investment in TMC. Trans Mountain has nominal capacity to deliver 890,000 barrels of petroleum products each day through a pipeline system of more than 1,180 kilometres of pipeline in Alberta and British Columbia and approximately 111 kilometres of pipeline in Washington State. Trans Mountain also operates a state-of-the-art loading facility, Westridge Marine Terminal, with three berths providing tidewater access to global markets. As a Federal Crown Corporation, Trans Mountain continues to build on more than 70 years of experience delivering operational and safety excellence through its pipeline system.
Contact information:
Media Relations
Toll-free 1 855 908 9734
media@transmountain.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/289802
Source: Trans Mountain Corporation
