Pembina Pipeline posts drop in profit, gas pipeline expansions in the works

Pembina Pipeline Corp. posted a profit of $286 million during the third quarter, a drop from the $385 million it earned during the same period a year earlier.

The profit amounted to 43 cents per share versus 60 cents per share during the third quarter of 2024.

Revenue was $1.79 billion, down from $1.84 billion.

The Calgary-based natural gas shipper and processor says it has more than $1 billion of proposed pipeline expansions in the works to handle growing production out of the Montney, Duvernay and Deep Basin areas of Alberta and British Columbia.

Pembina also says it and partner Kineticor are expecting to make a final investment decision on the Greenlight Electricity Centre natural gas-fired power plant in Alberta during the first half of next year.

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