Description

Pembina Pipeline’s 932-Megawatt Data Center Bet — Is Gas-To-Power The Next Big Growth Engine?

Pembina Pipeline Corporation reported second quarter 2026 results with adjusted EBITDA of $1.064 billion, marking a 5% increase over the same quarter in 2025. This growth was supported by a strong operational performance across its Pipelines and Facilities divisions, and higher marketing business results. However, these gains were partially offset by the impacts of a new toll structure and revenue sharing mechanism implemented for the Alliance Pipeline. Quarterly earnings increased by 23% year-over-year to $512 million, while adjusted earnings rose 10% to $415 million, excluding unrealized gains and losses linked to derivatives and Cedar LNG. Volume throughput across Pipelines and Facilities grew by 3% year-over-year to 3.7 million barrels of oil equivalent per day, driven by increased activity on the Alliance and Nipisi pipelines and contributions from recently commissioned assets such as the RFS IV fractionator and Wapiti expansion.