TC Energy confirms termination of Keystone XL Pipeline Project. Ricketts Laments Decision
CALGARY, Alberta, June 09, 2021 (GLOBE NEWSWIRE) — TC Energy Corporation confirmed today that it has terminated the Keystone XL Pipeline Project.
Construction on the Project were suspended following the revocation of its Presidential Permit on January 20. The announcement said the Company 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.”
Following is a statement from TC Energy’s President and Chief Executive Officer, François Poirier:
We value the strong relationships we’ve built through the development of this Project and the experience we’ve gained. We remain grateful to the many organizations that supported the Project and would have shared in its benefits, including our partners, the Government of Alberta and Natural Law Energy, our customers, pipeline building trade unions, local communities, Indigenous groups, elected officials, landowners, the Government of Canada, contractors and suppliers, industry associations and our employees.
Through the process, we developed meaningful Indigenous equity opportunities and a first-of-its-kind, industry leading plan to operate the pipeline with net-zero emissions throughout its lifecycle. We will continue to identify opportunities to apply this level of ingenuity across our business going forward, including our current evaluation of the potential to power existing U.S. assets with renewable energy.”
The Company has $7 billion in other projects in the works currently, and said it will continue to “build on its 70-year history of success and leverage its diverse businesses in natural gas and liquids transportation along with storage and power generation to continue to meet the growing and evolving demand for energy across the continent.”
Nebraska Governor Pete Ricketts issued a statement following the news.
“President Biden’s executive action led to the termination of the Keystone XL pipeline,” said Governor Ricketts. “This is yet another example of the Biden-Harris Administration putting the priorities of radical environmental activists above our national interest. Without Keystone XL, the United States will not only be more dependent on overseas sources of oil, but our state will not enjoy the benefit of the jobs and property tax revenue the project would have brought.”
ADDITIONAL BACKGROUND: Keystone XL Pipeline Work Starts In April
