Sask. Premier Brad Wall rips Ottawa over Energy East cancellation
06 October 2017, 12:14 | Andres Norman
TransCanada announced on Thursday that it will cancel the Energy East pipeline project
Canada's Natural Resources Minister Jim Carr said the cancellation was a business decision by TransCanada given oil market conditions had changed since the pipeline was first proposed.
"After careful review of changed circumstances, we will be informing the National Energy Board that we will no longer be proceeding with our Energy East and Eastern Mainline applications", said president and CEO Russ Girling in a statement released Thursday morning.
Energy East would have carried oil from Alberta and Saskatchewan to refineries on the east coast for processing, and shipment overseas.
"This project was so wrong and so risky, its hard to believe it was seriously contemplated", Gretchen Fitzgerald, national program director of environmental organization the Sierra Club, said. The company said back then that it wanted to review the National Energy Board's August decision to toughen the pipeline project assessment procedure.
It's also going to withdraw from a Quebec environmental review. We got a lot of other things on the go.
"This is an important day in the fight against climate change in Canada".
Jean singled out the mayor of Montreal, Denis Coderre, accusing politicians in the east of taking "pride and credit" when energy projects that would have benefited the country fall through.
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The United Conservatives Interim Party Leader Nathan Cooper questioned the willingness of "Justin Trudeau and the Liberals to loudly champion Energy East and other pipeline projects". Several worldwide companies have sold off oilsands projects in the past year.
In a press release issued Thursday morning, Transcanada has indicated that they have made a decision to bury the project of $ 15.7 billion "as a result of an in-depth analysis of the new requirements".
Suncor Energy Inc. (TSX:SU), Canada's largest oil, gas and refining company by market capitalization, had hoped Energy East would allow it to replace US and offshore oil at its 137,000-barrel-per-day Montreal refinery, said spokeswoman Sneh Seetal. The project was created to facilitate massive, long-lived expansion of Canada's oil production at a time when science shows we must cut carbon pollution rapidly.
"Again it shows how local governments can make a difference", Coderre explained. "But when you have something that represents 26 football fields and they want to open wetlands, and install pipelines everywhere - that's unacceptable".
"This was an investor decision that resulted from the low global price of oil".
Notley said the project would have been a nation-building project benefiting all of Canada through new jobs, investment, energy security and replacing imported oil brought from the USA and elsewhere.
Look at the number of transnational oil companies exiting the oil sands, selling their assets due to the high costs of extraction and production: StatOil, Conoco-Phillips, Royal Dutch Shell.
"The fossil fuel era is ending. Governments need to step up with a plan to assist oil sands workers in transitioning into clean energy jobs".
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