West Coast Canadian crude oil exports nearly doubled in 2025, reaching a new record, primarily through the Trans Mountain pipeline. The Vancouver Fraser Port Authority reported 170.4 million tonnes of cargo moved last year, an increase from 158.4 million in 2024. Crude oil exports surged 95% to 24.4 million metric tonnes, marking the largest increase among exported products. This surge aligns with Prime Minister Mark Carney's objective to double Canadian exports to non-U.S. markets. The Trans Mountain expansion is enabling Alberta's oilsands producers to reach markets in China and South Korea.
The port authority highlighted its strategic position to support Canada's trade goals, noting decades of investment in terminal and rail capacity. Projects like Roberts Bank Terminal 2 and Second Narrows dredging are planned to further enhance capacity.
Global geopolitical events, such as the disruption in the Strait of Hormuz, have increased global oil prices, benefiting Canada's oil and gas sector. Energy Minister Tim Hodgson has received inquiries from nations seeking Canadian energy exports. Royal Bank of Canada reports that while higher energy costs impact consumers, they boost corporate profits and government royalties for oil-exporting nations like Canada. However, RBC anticipates limited new investment in expanding Canada's oil sector due to high costs and long timelines.
The Trans Mountain Pipeline expansion, completed in May 2024 after a $4.5 billion acquisition by the Canadian government in 2018, saw total investment rise to nearly $35 billion. The government intends to divest from the project in due course.
