Following intense environmental scrutiny and doubts surrounding the viability of the project, TransCanada Corp. announced this morning that it is abandoning its Energy East and Eastern Mainline pipeline projects. In a statement, TransCanada said that it had reviewed the “changed circumstances” and will be informing the national energy Board that it would no longer proceed with the project. The west-to-east pipeline would have delivered 1.1-million barrels per day of western Canadian crude to refineries in Quebec and Saint John, New Brunswick. Additionally, an export terminal was to be built by Irving Oil Ltd.
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