TransCanada abandons pipeline projects after green push

TransCanada abandons pipeline projects after green push

Gallant says Energy East, which would have would have created jobs in New Brunswick and helped the Canadian economy.

It will now inform the federal and provincial regulators that it will no longer be proceeding with its applications for the projects.

Energy East would have given oil producers in Alberta and Saskatchewan, who are heavily dependent on buyers in the US, another market for their crude by carrying about 1.1 million barrels a day to refineries and a marine-shipping terminal in eastern Canada.

As Energy East supporters lamented the loss of jobs and revenue, Indigenous opponents, environmental activists and a number of Quebec politicians celebrated.

The company TransCanada had asked the national energy Board (NEB) last month to suspend the process of approval of the pipeline, after the criteria had been tightened.

It also said it would probe the "upstream and downstream" greenhouse gas emissions and the possible impact of the emission reduction targets on the economic viability of the projects.

TransCanada Chief Executive Officer Russ Girling said the decisions come after "a careful review of changed circumstances", and in prepared remarks he thanked the labor and business groups and municipalities who provided support for the projects.

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TransCanada Corp finally abandoned construction of its controversial Energy East pipeline on Thursday, taking a C$1 billion blow and handing environmental groups a major victory in efforts to hamper Canadian oil development.

However, New Brunswick Premier Brian Gallant told the Globe and Mail he received assurances from Ottawa that the greenhouse gas assessment didn't represent an insurmountable hurdle for TransCanada.

He said Coderre leads a city that used to use a pipeline to dump raw sewage into the St. Lawrence Seaway, and added "When Coderre cheers for the end of this pipeline, he cheers for the imported oil we buy from Saudi Arabia, where women can now drive, but the public beheadings continue". "Energy East is just the latest in a growing list of projects that will never see the light of day", he continued.

Picard is a signatory to the Treaty Alliance Against Tar Sands Expansion, a coalition of 150 tribes in Canada and the United States fighting against any and all oilsands pipeline projects.

February 3, 2016: The National Energy Board directing TransCanada to rework its application to build the contentious Energy East pipeline because the document is too hard to understand - even for experts. "Nothing has changed in the government's decision-making process". "We accepted the reversal of Enbridge's Line 9B (pipeline through Montreal), but we ensured there were measures in place to follow up and protect the community".

Oil prices have roughly halved since 2014. We look forward to working with TransCanada and the federal government to find employment through Project Labour Agreements on other pipelines, specifically Keystone XL.

Concern about limited market access is one of the reasons foreign oil companies have sold off $23 billion in Canadian assets this year, along with high production costs that have made the country's oil sands unattractive.

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