Crude oil tankers are seen docked at the Trans Mountain Westridge Marine Terminal, where crude oil from the expanded Trans Mountain pipeline is loaded onto tankers, in Burnaby, B.C., June, 2024.

Trans Mountain Corp. is on track to return $1.7-billion to the federal government this year, owing to higher-than-expected volumes on the pipeline system and less capital spending than it had predicted.

The government-owned pipeline company reported adjusted earnings before interest, taxes, depreciation and amortization of $591-million in the third quarter, compared with $512-million in the same period of 2024. It returned $314-million to the federal government, consisting of $151-million in interest payments and $163-million in cash dividends.

“It was a long, tortured process” to get the Trans

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