TC Energy terminates Keystone XL pipeline project

Tanya Simon
June 10, 2021

TC Energy will coordinate with regulators, indigenous groups and other stakeholders "to meet its environmental and regulatory commitments and ensure a safe termination of and exit from the project", the company said in a press release, confirming that it had notified the government of the province of Alberta.

While asserting that the Keystone project "would not serve the USA national interest", Biden said that his January 20 order is created to "promote and protect our public health and the environment; and conserve our national treasures and monuments, places that secure our national memory". Environmentalists, Native Americans, and some landowners had opposed the move.

"Through the process, we developed meaningful Indigenous equity opportunities and a first-of-its-kind, industry leading plan to operate the pipeline with net-zero emissions throughout its lifecycle", said TC Energy's President and Chief Executive Officer, François Poirier.

Opposition to Keystone, he added, amplified action against climate change and "marked the end of the unprotested expansion of oil and gas infrastructure in the U.S".

The project had been buffeted by the political winds in the USA, getting rejected by President Barack Obama in 2015 before President Donald Trump revived it two years later.

Biden canceled it in January over longstanding concerns that burning oilsands crude would make climate change worse. "Good riddance to Keystone XL". From there it would connect with the company's existing facilities to reach the U.S. Gulf Coast - one of the world's biggest oil refining hubs. -Canadian border, have already been built.

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Keystone XL would have increased Canadian export capacity by 830,000 barrels per day, running from Hardisty, Alta.to Steele City, Neb.

"The fight to stop Keystone XL was never about one pipeline", Mackey said in a news release. Activists have now turned their focus to Enbridge Inc.'s Line 3 in Minnesota.

"President Biden killed the #KeystoneXL Pipeline & with it, thousands of good-paying American jobs", said Sen.

Republicans immediately pounced on the move, blaming Biden for the cancellation and contrasting the president's opposition to Keystone XL with his administration's approach to Nord Stream 2, a pipeline to transport natural gas from Russian Federation to Germany.

Senator Steve Daines, a Montana Republican, called it "devastating news for our economy, jobs, environment and national security - and it's entirely President Biden's fault". "The Company continues to progress $20 billion of secured growth projects, $7 billion of projects under development, and numerous additional initiatives aligned with its risk preferences and return criteria across its business lines and geographies".

The Government of Alberta and TC Energy Corporation have agreed to an exit from the Keystone XL project and partnership, with final costs to the Alberta government expected to be $1.3 billion.

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