The Company abandons the controversial XL pipeline project | News from the economy

Critics hailed the announcement as a “victory” a few months after U.S. President Joe Biden revoked a permit for the pipeline.

The company behind a controversial oil pipeline that would have split between Canada and the United States has officially abandoned the project, months after U.S. President Joe Biden he revoked his permission.

In a statement On Wednesday, TC Energy said it had completed the Keystone XL project “after a complete review of its options” and in consultation with its partner, the government of Alberta, an oil-rich province in western Canada.

“The Company will continue to coordinate with regulators, stakeholders and indigenous groups to meet its environmental and regulatory commitments and ensure a safe cessation of the Project and exits,” TC Energy said.

Alberta’s first on the right The government of Jason Kenney it invested C $ 1.5 billion ($ 1.1 billion) in the Keystone project last year, saying the pipeline was needed to support the provincial economy.

But the project failed years of firm opposition by environmental groups, landowners and indigenous communities in Canada and the United States, who argued that it threatened their lands and waters and exacerbated the climate crisis.

In January, just hours after his inauguration, Biden fulfilled a campaign promise and revoked the presidential permit for the bill issued by former President Donald Trump.

The 1,947 km (1,210-mile) Keystone XL pipeline was set to stretch from the Canadian province of Alberta to the U.S. state of Nebraska, and would ship 830,000 barrels of oil per day between the two countries.

The Indigenous Environmental Network, a U.S. Native defense group, welcomed the announcement Wednesday. “After more than 10 years – we have finally defeated an oil and gas giant! Keystone XL is DEAD! Let’s dance to this victory! “the group tweeted.

“From the Tar Sands to the Gulf – we are here to protect the next seven generations of life, the water and our communities.” This is not the end – but only the beginning of further victories. We know this in our hearts. ”

“We hope the Biden administration will continue to move this country in the right direction by opposing fossil fuel projects that threaten our climate, our waters and endangered wildlife. Good release for Keystone XL!” he said Jared Margolis of the Center for Biological Diversity, a group based in the United States.

The government of Canadian Prime Minister Justin Trudeau had support the pipeline, but Trudeau said in January that he accepted Biden’s decision to cancel the project.

Kenney, Alberta’s prime minister, said in a statement Wednesday that his government has been “disappointed and frustrated by the circumstances surrounding the Keystone XL project, including the cancellation of the presidential permit for the passage of the gas pipeline ”.

“That said, Alberta will continue to play an important role in a reliable and affordable North American energy system. We will work with our American partners to ensure that we can meet American energy demands through the responsible development and transportation of our resources “.

The statement said the Alberta government must bear a total cost of C $ 1.3 billion ($ 1.07 billion) for the project.

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