HOUSTON (ICIS)--Canadian energy infrastructure major TC Energy (formerly TransCanada) has terminated the Keystone XL Pipeline project, the company announced on Wednesday.
The company had suspended work on the project in January following the revocation of its presidential permit by the Biden Administration.
TC Energy said it made the decision after consultation with its partner, the Canadian province of Alberta, and will continue to coordinate with regulators, stakeholders and Indigenous groups to meet its environmental and regulatory commitments and ensure a safe termination of and exit from the project.
The long-delayed 1,179-mile (1,897 km) project would have shipped 830,000 bbl/day of oil from Alberta to Nebraska, from where it would eventually go to refineries on the US Gulf Coast.
“We value the strong relationships we’ve built through the development of this project and the experience we’ve gained,” TC Energy president and CEO Francois Poirier said. “We remain grateful to the many organisations that supported the project and would have shared in its benefits.”
Additional reporting by Stefan Baumgarten