Pembina Pipeline Sanctions $3 Billion in New Growth Projects
The energy infrastructure provider reported second quarter revenue of 2,152 million Canadian dollars.
Pembina Pipeline Corporation (PBA), the energy infrastructure provider, sanctioned two new growth projects totaling approximately 3 billion Canadian dollars net to the company during the second quarter of 2026. The developments include the Heartland Extraction Plant and the Greenlight Electricity Centre.
These projects are part of a strategy to capture volumes, connect them to markets, and catalyze new hydrocarbon demand platforms. The company said these initiatives provide visibility toward a target of 5% to 7% compound annual fee-based adjusted EBITDA per share growth through 2030.
For the three months ended June 30, 2026, the company reported revenue of 2,152 million Canadian dollars, an increase of 360 million Canadian dollars compared to the 1,792 million Canadian dollars reported in the same period in 2025. Reported earnings for the quarter were 512 million Canadian dollars, while adjusted earnings were 415 million Canadian dollars.
Adjusted EBITDA for the second quarter reached 1,064 million Canadian dollars. Adjusted cash flow from operating activities was 778 million Canadian dollars, or 1.34 a share.
The company placed the RFS IV project into service in late May, completing the project on time and under budget. The facility adds 55,000 barrels per day of propane-plus fractionation capacity at the Redwater Complex.
Other strategic activities during the quarter included announcing participation in a West Coast oil pipeline project and expanding long-term commercial agreements for integrated ethane solutions.
The board of directors declared a common share cash dividend of 0.735 a share for the third quarter of 2026.