“After a full review of its options and in consultation with its partner, the Government of Alberta, [TC Energy] terminated the Keystone XL pipeline project, ”the company said on its website.
The statement comes after TC Energy announced in May that it was taking a $ 2.2 billion write-down on its profits to account for the blockage of the pipeline project.
“Construction activities to move the project forward have been suspended following the revocation of its presidential permit on January 20, 2021,” the company continued. “The Company will continue to coordinate with regulators, stakeholders and Indigenous groups to meet its environmental and regulatory commitments and ensure a safe end and exit of the project. “
TC Energy’s announcement is probably the last chapter in the Keystone XL saga. The pipeline project was first unveiled at the start of the oil shale boom in the United States in the fields of North Dakota, Texas and New Mexico.
Republican senators hammered on Biden for canceling the cross-border permit, complaining that it would hurt both the United States and Canada economically and make the United States dependent on countries more hostile to oil.
And after: Environmental activists and indigenous tribes are pressuring the Biden administration to shut down other pipelines, including Dakota Access and Enbridge Line 3.