TC Energy terminates Keystone XL pipeline project

Keystone XL- Image from CHATNews			By Connor Gunn	
		Alberta terminates involvement with Keystone XL project				Jun 9 2021 | 3:07 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.

On Wednesday, he said the province will still work with USA partners to play a role in meeting American energy demands.

The release said final costs to the government are expected to be approximately $1.3 billion, as previously estimated.

Wyoming Sen. John Barrasso, the top Republican on the Senate energy committee, was more direct: "President Biden killed the Keystone XL Pipeline and with it, thousands of good-paying American jobs".

That investment vaporized when the Biden administration in the USA cancelled the permit for the project on its first day in office.

In a release Wednesday, TC Energy said that after a comprehensive review of its options and consultations with the government of Alberta, it had terminated the project.

The move comes months after President Joe Biden revoked a key permit for the pipeline on his first day in office.

Keystone's demise follows cancellations of Northern Gateway and Energy East and a delay in Trans Mountain, which the Canadian government bought in 2019 for $4.5 billion from Kinder Morgan.

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"At a time when Canadians are desperate to get back to work, the loss of this important project only makes this harder", he said in a statement, pinning the blame on Prime Minister Justin Trudeau for failing to recognize the importance of pipeline projects.

The province had hoped the pipeline would spur increased development in the oil sands and bring tens of billions of dollars in royalties over decades.

"We value the strong relationships we've built through the development of this Project and the experience we've gained", said François Poirier, TC Energy's President and Chief Executive Officer, in a press release from TC Energy.

The company said it would continue to look for opportunities in the energy transition and in powering existing USA assets with renewable energy.

Construction on the 1,200-mile (1,930-kilometer) pipeline began past year when former President Donald Trump revived the long-delayed project after it had stalled under the Obama administration.

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.

Biden had vowed during the presidential campaign to end the project over environmental concerns, a reversal of the stance taken by predecessor Donald Trump.

Jared Margolis of the Arizona-based Center for Biological Diversity called the pipeline's termination a landmark moment in the fight against the climate crisis. "Good riddance to Keystone XL".

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