Update 2: Premier Rachel Notley calls the news of Energy East’s cancellation “deeply disappointing”
“Our government has supported Energy East since the project was proposed. We believe this nation-building project would have benefited all of Canada through new jobs, investment, energy security and the ability to displace oil being imported into Canada from overseas and the United States.
“The National Energy Board needs to send a clear message on what the future of project reviews look like in Canada. Our government understands that deliberation on upstream emissions and land-use integrity is important and must continue. Investors need confidence and we look forward to seeing that certainty in place soon.
Update: Energy Minister reacted to the news TransCanada will be terminating Energy East.
“TransCanada Pipelines’ decision to cancel the Energy East Pipeline project was a business decision.
“Our government has approved two major export pipelines that are now under construction, and a third is expected to start soon. The Trans Mountain expansion and Line 3 projects alone represent over $11.6 billion in investment and will support thousands of jobs.
“In making the decision to approve these projects, our government took into consideration a wide variety of information, data and scientific evidence, including the National Energy Board’s recommendation report, the views of Canadians and enhanced consultations with Indigenous peoples.
“Our government would have used the same process to evaluate the Energy East Pipeline project that saw the Trans Mountain expansion and Line 3 projects approved. Nothing has changed in the Government’s decision-making process.
“While we recognize the current market challenges related to lower commodity prices, we are seeing signs of growth in the sector.”
TransCanada announced Thursday they will be terminating their plans for the Energy East Pipeline and Eastern Mainline projects.
Citing “changed circumstances” company President Russ Girling says they will be informing the National Energy Board of their plans to cancel the project.
New Brunswick Premier Brian Gallant said in a statement that the company’s decision not to move forward is “not good news”.
The company suspended the application about a month ago and there was speculation at that time that the project may not continue.The company said they planned to conduct a “careful review” of the new assessment process, schedules and viability of the pipeline.
A 30-day suspension granted last month was set to expire Sunday.