The Keystone XL pipeline is officially being terminated.
TC Energy, in consultation with the government of Alberta, announced on Wednesday they’re no longer pursing the project after U.S. President Joe Biden rescinded its permit as one of his first actions in office.
“We remain grateful to the many organizations that supported the project and would have shared in its benefits, including our partners, the [GoA], 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,” said François Poirier, TC Energy President and CEO.
Premier Jason Kenney is expressing his disappointment Keystone couldn’t move forward.
He says this decision isn’t deterring his government from playing an ‘important role in a reliable, affordable North American energy system.’
“We will work with our U.S. partners to ensure that we are able to meet U.S. energy demands through the responsible development and transportation of our resources.”
The GoA is expected to take a hit of $1.3 billion after investing in the project.
The Alberta NDP, the government’s official opposition, is calling on the UCP to release the complete contents of their ‘pipeline gamble.’
“His mismanagement and complete incompetence on this file has cost the people of Alberta north of one billion dollars,” said Kathleen Ganley, NDP Energy Critic. “The Premier should release the contents of the failed deal and apologize to all Albertans for so irresponsibly gambling away their money.”