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Energy East pipeline cancelled

06 Октября 2017

In late August, the National Energy Board - an independent regulatory agency that oversees worldwide and inter-provincial oil and gas pipelines - announced it would consider upstream and downstream greenhouse gas emissions in determining whether the Energy East pipeline was in the national interest.

TransCanada had hit regulatory hurdles even before the greenhouse gas assessment was announced.

Trudeau's "a lack of interest and leadership" on Energy East could undermine confidence in national unity, said Wall.

The premiers of Alberta and New Brunswick say they're disappointed by TransCanada's cancellation of the Energy East pipeline, which would have connected their two provinces.

Alberta premier Rachel Notley also lamented its demise, while opponents in Quebec rejoiced and praised citizen groups that played a key role in the fight against the pipeline.

A map shows the proposed route of TransCanada's Energy East pipeline.

But, Moosomin's mayor said Thursday morning, he was not surprised by the Calgary-based company's decision to kill the $15.7 billion project in light of what it called "changed circumstances." .

The 4,500km Energy East pipeline, which would have carried 1.1 million barrels of oil per day, faced stiff opposition from environmental groups and several municipalities in Quebec concerned about possible spills affecting groundwaters and rivers along its path.

Competing pipeline projects, including Enbridge Inc.'s Line 3 replacement project and Kinder Morgan Canada's Trans Mountain expansion project, have been approved by the Liberal government and are moving forward.

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Canada's National Energy Board (NEB) granted TransCanada a 30-day suspension on September 8, after the company said it needed to review the impact of new assessment criteria that would consider the C$15.7 billion ($12.58 billion) project's indirect greenhouse gas contributions.

Suncor Energy Inc. (TSX:SU), Canada's largest oil, gas and refining company by market capitalization, had hoped Energy East would allow it to replace USA and offshore oil at its 137,000-barrel-per-day Montreal refinery, said spokeswoman Sneh Seetal.

Wall had said the move was about environmental politics at a time when the entire country should be supporting a project that could create jobs, reduce the need to import foreign oil and get crude off the railways.

"We are pleased it was abandoned", he said.

"The Trudeau government is going to have to take a real hard look at whether their own heavy-handedness with that policy also led to this decision".

Of the cancellation, Green Party leader Elizabeth May added: "Today's announcement from TransCanada to cancel plans for the Energy East pipeline will be celebrated by many Canadians - those who understand that transporting toxic diluted bitumen (dilbit) across pristine areas, and that exporting bitumen to offshore refineries, is a poor business model".

In its news release, TransCanada said it will record a non-cash charge of about $1 billion in its fourth-quarter results to account for funds invested in the failed venture.

He says the project was never properly explained to Quebecers.

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Energy East pipeline cancelled