Tran­scanada blames ‘sub­stan­tial un­cer­tainty’ for killing En­ergy East

Metro Canada (Ottawa) - - Front Page -

Tran­scanada Corp. says it is can­celling its $15.7-bil­lion pro­posed En­er­gyeast pipe­line be­cause of “sub­stan­tial un­cer­tainty” caused by a reg­u­la­tory panel’s de­ci­sion to in­clude up­stream and down­stream emis­sions in its as­sess­ment of the project.

CEO Russ Gir­ling cited non­spe­cific “changed cir­cum­stances” for the de­ci­sion in a brief news re­lease Thurs­day morn­ing, with­out giv­ing fur­ther ex­pla­na­tion.

But in a let­ter to the Na­tional En­ergy Board posted Thurs­day on the NEB web­site, Tran­scanada says it’s halt­ing the project be­cause of a Na­tional En­ergy Board panel’s de­ci­sion in Septem­ber to al­low hear­ings to con­sider green­house gas emis­sions from pro­duc­ing and pro­cess­ing the oil it trans­ports in the pipe­line, an un­prece­dented ex­pan­sion of the scope of the in­quiry.

In the let­ter, it says de­spite of­fers from the prov­ince of New Brunswick and the fed­eral gov­ern­ment to cover the cost of the anal­y­sis, it cre­ates “sub­stan­tial un­cer­tainty around the scope, tim­ing and cost as­so­ci­ated with the reg­u­la­tory re­view” of En­ergy East and the as­so­ci­ated East­ern Main­line projects.

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