Developer cancels Keystone XL pipeline — OIL AND GAS

Cornelia Mascio
Giugno 10, 2021

"Having said this, Alberta will continue to play an important role in a reliable, affordable North American energy system", he says in the release.

"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", he continued.

The Alberta government agreed previous year to invest about $1.5 billion as equity in the project, plus billions more in loan guarantees in order to get the pipeline moving.

Construction on the project was suspended after U.S. President Joe Biden revoked its permit on January 20. "We will work with our USA partners to ensure that we are able to meet USA energy demands through the responsible development and transportation of our resources".

TC Energy and the province said they would look at their options in the wake of the cancellation, but TC Energy said the pipeline extension was officially dead as of Wednesday. "We will continue to identify opportunities to apply this level of ingenuity across our business going forward, including our current evaluation of the potential to power existing USA assets with renewable energy". -Canada border. TC Energy suspended work on Keystone XL the same day. "However, terminating our relationship with TC Energy's project is in the best interest of Albertans under current conditions".

As a result, the Canadian leg of the project had been under construction for several months with around 1,000 workers in southeast Alberta.

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