Canada: TC Energy confirms termination of Keystone XL Pipeline Project
14 Jun 2021
TC Energy Corp confirmed June 9 that after a comprehensive review of its options, and in consultation with its partner, the
Government of Alberta, it has 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. The Company will 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.
Following is a statement from TC Energy’s President and Chief Executive Officer, François Poirier:
Keystone XL oil pipeline developer pulls the plug on controversial project energylivenews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from energylivenews.com Daily Mail and Mail on Sunday newspapers.
Jun92021, 3:42 pm
The Alberta government is terminating its involvement in the Keystone XL pipeline project, leaving the province on the hook for about $1.3 billion in costs.
The controversial bitumen pipeline was planned to cover 1,947 kilometres of land from Hardisty, Alberta, to Steele City, Nebraska, carrying 830,000 barrels of crude from western Canadian oil fields to Gulf Coast refineries per day.
The project was first proposed in 2008 as an extension of the existing Keystone Pipeline network. If it had been completed, the pipeline would have contributed approximately $2.4 billion to Canada’s GDP, plus an additional estimated $30 billion in tax and royalty revenues.
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