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TransCanada abandons its Energy East and Eastern Mainline pipeline projects

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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