TC Energy announced today it had terminated the Keystone XL pipeline project.
Construction activities to advance the Project were suspended following the revocation of its Presidential Permit on January 20, 2021.
TC Energy will now continue to coordinate with regulators, stakeholders and Indigenous groups to meet its environmental and regulatory commitments and ensure a safe termination of and exit from the Project.
The pipeline was previously approved by TC Energy and would have seen the 1,930-kilometre pipeline transport up to 830,000 barrels of oil a day and expected to cost $8 Billion and provide 100's of jobs.
TC Energy’s President and Chief Executive Officer, François Poirier said in a statement that "We value the strong relationships we’ve built through the development of this Project and the experience we’ve gained."
He continued to say that "We remain grateful to the many organizations that supported the Project and would have shared in its benefits, including our partners, the Government of Alberta and Natural Law Energy, our customers, pipeline building trade unions, local communities, Indigenous groups, elected officials, landowners, the Government of Canada, contractors and suppliers, industry associations and our employees."
The Alberta government is also ending its involvement in the Keystone XL project.
"We remain disappointed and frustrated with the circumstances surrounding the Keystone XL project, including the cancellation of the presidential permit for the pipeline’s border crossing," Alberta Premier Jason Kenney wrote in the release.
