TransCanada Cancelling Two Major Pipeline Projects

The energy company say it will be informing the National Energy Board that it will be withdrawing applications for regulatory approvals.

The Energy East and Eastern Mainline pipeline projects will not go ahead as planned. The Calgary-based energy company, TransCanada, announcing Thursday morning (Oct. 5) that it will be informing the National Energy Board that it will be withdrawing applications for regulatory approvals for the two major projects. Energy East was envisioned to ship Alberta oil products across Canada, as far east as Saint John, New Brunswick. Alberta Premier Rachel Notley also releasing the following statement on the announcement:
 
“We are deeply disappointed by the recent decision from TransCanada. We understand that it is driven by a broad range of factors that any responsible business must consider. Nonetheless, this is an unfortunate outcome for Canadians.

“Our government has supported Energy East since the project was proposed. We believe this nation-building project would have benefited all of Canada through new jobs, investment, energy security and the ability to displace oil being imported into Canada from overseas and the United States.

“The National Energy Board needs to send a clear message on what the future of project reviews look like in Canada. Our government understands that deliberation on upstream emissions and land-use integrity is important and must continue. Investors need confidence and we look forward to seeing that certainty in place soon.

“This decision highlights the importance of diversifying market access and the subsequent national priority that must be placed on the Trans Mountain expansion project.” -Sam Borsato

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