TransCanada pulls plug on Energy East pipeline

TransCanada

TransCanada says it's canceling plans for the Energy East pipeline and Eastern Mainline projects.

Russ Girling, executive director of the Calgary-based company, said in a statement that he will report to the National Energy Board that TransCanada will not proceed with the requests.

New Brunswick Premier Brian Gallant went further in saying he believed the project would have been approved if TransCanada had continued with the process.

TransCanada says it will inform the National Energy Board that it will no longer be proceeding with its applications for both pipelines. Energy East would have moved Alberta oilsands production to an Irving Oil operation in Saint John.

Saskatchewan Premier Brad Wall said Ottawa is ultimately to blame for TransCanada's decision to cancel its proposed Energy East Pipeline and says the government's actions have undermined national unity. Because regulators failed to reach a decision on the project, TransCanada expects "no recoveries of costs from third parties". Due to its more energy-intensive extraction, transportation, and processing requirements, bitumen is known as one of the dirtiest fuels - and a lifecycle analysis would likely prove the project to not be in Canada's best interest. "Investors need confidence and we look forward to seeing that certainty in place soon".

The Energy East pipeline would have carried oil from Alberta and Saskatchewan to New Brunswick, and would have seen 612 kilometres of natural-gas pipeline in the province converted to transport 1.1 million barrels of crude oil a day to the Maritimes.

As 350.org founder Bill McKibben quipped then via tweet, "Transcanada may abandon its #energyeast pipeline because it doesn't want to confront the climate implications". Companies are not eager to invest in expensive tar sands projects unless the price of oil comes back up.

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October 8, 2015: Environmental group Environmental Defence says the National Energy Board is rushing the process for Energy East by gathering oral traditional evidence from aboriginal bands before it has received a complete application.

"The federal government and the NEB keep moving the goal post, with the latest in terms of adding in the upstream and downstream emissions to the project itself with no clarity around that", he said.

With Energy East scrapped, Western Canada's producers are now counting on Kinder Morgan Inc.'s project to carry crude to the Pacific Coast, and TransCanada's Keystone XL to connect with U.S. Gulf Coast refineries.

Lisa Raitt, a former natural Resources minister in the government of Stephen Harper, had vigorously defended the pipeline project during the race to the leadership of conservative, even going so far as to propose to approve the draft force in spite of a strong opposition in Quebec.

Oil prices have roughly halved since 2014. The project was created to facilitate massive, long-lived expansion of Canada's oil production at a time when science shows we must cut carbon pollution rapidly.

The company suspended its application on Sep.

"I think the federal government has erred there and I think it's incumbent on the Trudeau government to come clean on what they want the NEB to do so that we don't make this mistake in the future as well", Nenshi said.

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