TransCanada terminates Energy East project

Marco Green
October 5, 2017

There is shock from the energy sector on Thursday morning as Calgary-based TransCanada announced they would be dropping the idea of a pipeline from Alberta to the east coast.

The company said in a statement that "after a careful review of change circumstances", it would tell Canadian energy regulators and those in Quebec it was no longer pursuing the project.

Girling said the decision was expected to cost the company a $1 billion loss due to the investments it has already made on the project. "Most of all, we thank Canadians across the country who contributed towards the development of these initiatives".

The project was a 4,600 kilometre pipeline that would have carried up to 1.1 million barrels of crude oil a day.

Much of the pipeline would have been converted from an existing natural gas pipeline, including the entire length that now runs through Saskatchewan.

New Brunswick Premier Brian Gallant said in a statement that the company's decision not to move forward is "not good news" for those who wanted to see the pipeline built, including the provincial government.

"Like many New Brunswickers, we are disappointed".

Meanwhile, Montreal Mayor Denis Coderre celebrated the Energy East announcement on Thursday, suggesting in a series of tweets that citizen groups and local politicians from the Montreal-area played a key role in putting a stop to the project.

The termination comes after the National Energy Board (NEB) expanded the scope of its review of Energy East in August, saying it would consider the pipeline's indirect greenhouse gas contributions.

Other reports by Click Lancashire

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