TransCanada Terminates Energy East Pipeline Project

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TransCanada Corp. said Thursday it would end efforts to develop two Canadian energy pipeline projects after facing regulatory delays. Here's a timeline of events in the controversial pipeline's history.

Alberta Premier Rachel Notley says Energy East - which would have carried Alberta oil to tidewater - would have benefited all of Canada with new jobs, investment, energy security and the ability to displace imported oil.

Energy East would have given oil producers in Alberta and Saskatchewan, who are heavily dependent on buyers in the US, another market for their crude by carrying about 1.1 million barrels a day to refineries and a marine-shipping terminal in eastern Canada.

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.

As a result of its decision not to proceed with the proposed projects, TransCanada is reviewing its approximate C$1.3 billion carrying value, including allowance for funds used during construction or AFUDC capitalized since inception.

The Saskatchewan Urban Municipalities Association and Regina Mayor Michael Fougere also spoke in favour of Energy East.

LISTEN: How will cancellation of the Energy East pipeline impact Canada's economy? Wall said Coderre's criticism of the environmental risks of the pipeline is hypocritical considering his administration oversaw dumping billions of litres of raw sewage into the St. Lawrence Seaway.

December 17, 2015: TransCanada files an amended application and cost estimate of $15.7 billion for Energy East.

"This is not up to me to explain why the company took this decision".

A map shows the proposed route of TransCanada's Energy East pipeline.

TransCanada is announcing that it has ended its Energy East Pipeline proposal that would have seen bitumen transported through existing natural gas pipelines.

Environment Minister David Heurtel says he wanted the $15.7-billion project to be subject to the province's environmental regulations.

March 7, 2016: Protesters in Quebec disrupt hearings into the Energy East project seconds after they officially started.

It will now inform the federal and provincial regulators that it will no longer be proceeding with its applications for the projects.

TransCanada pulled its application for Energy East once the National Energy Board (NEB) ruled that it would consider all greenhouse gas emissions resulting from the project. The NEB board received the motions after a news report revealed the two members met with ex-Quebec premier Jean Charest, who was at the time a paid consultant for TransCanada.

"While we ultimately support getting off oil, oil is still necessary today", they said in a statement.

Saskatchewan Premier Brad Wall says the reasons for the decision fall at the feet of Prime Minister Justin Trudeau and the federal government.

The Treaty Alliance Against the Tar Sands, made up of 150 First Nations across Canada and the United States, says it will now focus its sights on Kinder Morgan's Trans Mountain expansion, Enbridge's Line 3 and TransCanada's Keystone XL.

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