A TC Energy pump station sits behind mounds of dirt from the Keystone XL crude oil pipeline as it lies idle near Oyen, Alberta, Canada February 1, 202

TC Energy terminates Keystone XL pipeline project

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2021-06-09 21:30:06

A TC Energy pump station sits behind mounds of dirt from the Keystone XL crude oil pipeline as it lies idle near Oyen, Alberta, Canada February 1, 2021. REUTERS/Todd Korol

Energy infrastructure company TC Energy (TRP.TO) said on Wednesday it had terminated the $9 billion Keystone XL pipeline project, months after U.S. President Joe Biden revoked a key permit in a blow to Canada's oil sector.

Keystone XL, which would have been under construction this year, was expected to carry 830,000 barrels per day of Alberta oil sands crude to Nebraska.

But opposition from U.S. landowners, Native American tribes and environmentalists had delayed the project for the past 12 years, with Biden pledging to scrap the permit, which he did on his first day in office.

"We remain disappointed and frustrated with the circumstances surrounding the Keystone XL project, including the cancellation of the presidential permit for the pipeline's border crossing," Alberta Premier Jason Kenney said in a statement.