Energy East was an oil pipeline, but the Eastern Mainline project, which was also killed on Thursday, would have transported natural gas along the north shore of Lake Ontario. Alberta Premier Rachel Notley (statement): Our government has supported Energy East since the project was proposed. The decision has been met with both cheers and jeers. The company suspended its application on Sep. 7  for 30 days on the $15.7-billion route that would carry Alberta oilsands product from Hardisty to Saint John. As a result of the decision, TransCanada expects an estimated $1 billion after-tax, non-cash charge to be recorded in the fourth quarter, the company said in a statement Thursday. Article content. In N.B., a debt-heavy province with an unemployment rate of 10.5%, oil and gas development represents an enticing economic elixir. No wonder his White House is disorganized, Pipeline protesters chase and injure RCMP officer, who gets his man anyway, Podcast: Don’t believe Elon Musk’s hype about autonomous driving EVs. "The Atlantic Coast Pipeline was never needed, and the facts have never been more clear: fracked gas has no role in our energy future," Appalachian Voices Executive Director Tom Cormons said in a release. of Calgary. And every time you do that, you add more complexity, you tend to ask a regulator to become a policy-maker, which they should never be. Most importantly, once you’ve actually built it, you’ve got an advantage in that you only have to cover your operating cost to keep it running and wait for those periods where you actually are making a lot of money to recover your fixed investment. The Eastern Mainline project would add new gas pipeline and compression facilities to an existing system in Southern Ontario, where most of the country’s home and industrial gas consumers are located. The next issue of Calgary Herald Headline News will soon be in your inbox. Conservatives savage 'disastrous' Liberal policy over cancelled Energy East pipeline Back to video “Today is the result of the disastrous energy policies promoted by Justin Trudeau and his failure to champion the Canadian energy sector,” Raitt told a news conference on Parliament Hill. Because regulators failed to reach a decision on the project, TransCanada expects “no recoveries of costs from third parties.”. You can always find a point in time where the conditions are such that if you start the project that day, it wouldn’t be economic. - The American Energy News : The American Energy News, Energy East critics in Eastern Canada need lesson in pipeline economics | Energi News, Fire up your memes, gentlemen, Ted Morton is politicking with pipelines again - Energi News, EPA’s final report on fracking and groundwater: 10 things to know, Hogan signs fracking ban, silences Western Maryland voices, Trump wasn’t a real CEO. This is no small issue, as even a casual reader of the expert panel’s report and government statements will know. Just days after Dominion Energy and Duke Energy prevailed in … Robert Mansell, academic director, School of Public Policy at the University of Calgary (interview): Look at the number of projects now where it’s gone five or six or seven or eight years, still never a decision. I would really like to know the opinion and financial contribution from Suncor and Irving as they would be two extremely vital components of this pipeline along with any hydro or gas facilities that would have sold power to the 50 plus generating stations associated with this project. The recent re-scoping of the issues list to include upstream and downstream emissions attributable to the pipeline was just the last straw. Meanwhile, Montreal Mayor Denis Coderre celebrated the Energy East announcement on Thursday, suggesting in a series of tweets that citizen groups and local politicians from the Montreal-area played a key role in putting a stop to the project. Although he likely didn't know it, when he signed a presidential permit for the not-quite-dead-yet Keystone XL pipeline, he set in motion a series of … Energy East Pipeline Could Be Cancelled By TransCanada The company says changes to the review process have affected the project's viability. The natural-gas pipeline would have tunneled under the Appalachian Trail from West Virginia to North Carolina, and the two energy companies … In a November 10, 2011 phone call, then-President Barack Obama told then Prime Minister Stephen Harper that the Keystone XL approval process was on hold. Duke Energy Corp. and Dominion Energy Inc., the companies behind the Atlantic Coast Pipeline, announced Sunday that they were shutting down the project “due to ongoing delays and increasing cost uncertainty which threaten the economic viability of the project.” Natural gas prices have also risen from the dead, changing the economics of converting the company’s natural gas line to crude oil. In June 2013, Irving Oil's Arthur Irvingand Frank McKenna discuss the TransCanada negotiations which have frustrated Irving and Irving and TransCanada finally reach a deal. Kevin Birn, an analyst with IHS Markit, said he thought the slow regulatory process, rather than changing market conditions, led TransCanada to cancel the Energy East project. We apologize, but this video has failed to load. New pipeline technology has made the […] Many other factors also hurt … The election of the Trudeau Liberals in 2015 changed the national political calculations, giving Quebec opposition to Energy East perhaps more influence than it might have had under the former Conservative government. This advertisement has not loaded yet, but your article continues below. Perhaps the most lingering myth about Energy East was that it would be built to displace foreign oil imports in Eastern Canada. WordPress Theme by Solostream. TransCanada is cancelling plans for its Energy East pipeline and Eastern Mainline projects. Duke Energy Corp. and Dominion Energy Inc., the companies behind the Atlantic Coast Pipeline, announced Sunday that they were shutting down the project “due to ongoing delays and increasing cost uncertainty which threaten the economic viability of the project.” Dennis McConaghy, former TransCanada VP and author of Dysfunction — Canada after Keystone XL (emailed response to questions):  The real question for Canada and especially its federal government is what lessons does it learn from this decision taken by TransCanada to end the Energy East project and absorb a billion dollar writedown. TransCanada’s pipeline was to take Alberta oilsands production to Quebec and New Brunswick. The $15.7 billion Energy East project, first announced in 2013, would have involved converting about 3,000 kilometres of TransCanada Corp.’s underused natural gas pipeline … TransCanada is keeping mum, citing “changed circumstances,” which most observers interpret to mean the recent decision by the National Energy Board to include assessments of upstream and downstream greenhouse gas emissions in the project’s environmental review, but could mean any number of things. TransCanada blames “regulatory uncertainty” for Energy East withdrawal, evidence thus far supports that view. Combined with the 525,000 b/d of Trans Mountain Expansion, that provides a total of 1.4 million b/d. Energy East pipeline cancelled videos and latest news articles; GlobalNews.ca your source for the latest news on Energy East pipeline cancelled . This doesn’t necessarily mean rejecting the pipeline because it’s going to increase emissions. © 2020 The American Energy News. Investors need confidence and we look forward to seeing that certainty in place soon. L'abandon projet Énergie-Est est une victoire majeure du monde municipal. Finally, under Trudeau, indigenous communities will be given much more say in NEB assessments and First Nations are an big part of the opposition to Energy East. It would have required the company to account for the entire climate-warming impact of the project, including any pollution produced during construction and operation of the pipeline, as well as the pollution from any oil or other petroleum products shipped on the pipeline. TransCanada announced on Thursday that it will cancel the … The company announced its cancellation Thursday. Here are five things you should know about the cancelled Alberta-to-New Brunswick pipeline. Energy East critics in Eastern Canada need lesson in pipeline economics - The American Energy News : The American Energy News, Is Prime Minister Trudeau lying about why Energy East pipeline was cancelled? If you add a whole bunch more capacity, if you are diverting some of that flow off existing lines, you worsen the economics for incumbents by approving the new entrant. Communities standing up to oil and gas. … RALEIGH, N.C. (WNCN/AP) — Two large energy companies Sunday announced the cancellation of a natural gas pipeline known as the Atlantic Coast Pipeline. TransCanada has cancelled the Energy East pipeline that was to run all the way from the oil sands in Alberta to eastern Canada, at the cost of almost C$ 16 billion… © 2020 Calgary Herald, a division of Postmedia Network Inc. All rights reserved. Trans Mountain pipeline. There was an error, please provide a valid email address. Market forces are irrelevant if the company has 20-year contracts that generate revenue regardless of the ups and downs of prices. Several economists, including influential Andrew Leach of the University of Alberta, have pointed out that pipeline tolls of $10 to $14 a barrel don’t make sense in a world of $50 oil (West Texas Intermediate was over $100 when Energy East was launched). TransCanada put Energy East on hold in September 2017 and finally cancelled it a month later. The company announced it will write down an estimated $1 billion in costs associated with the terminated project. We still believe that,” Gallant said. Kent Fellows, University of Calgary (interview): When you look at the NEB’s mandate to regulate, they have a responsibility to make sure that the pipeline network as system is operating efficiently. CAPP says Canadian output will rise by 1.3 million b/d by 2030. Energy East was an oil pipeline, but the Eastern Mainline project, which was also killed on Thursday, would have transported natural gas along the north shore of Lake Ontario. 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. Direct to your Inbox Click here. Alberta oil sands output forecasts by the Canadian Association of Petroleum Producers show that in 2014, Energy East’s 1.1 million b/d of capacity would be needed by 2025. Join the mailing list to receive daily email updates. When they invested here, that was their understanding. Email ( required; will not be published ), Get theAmerican Energy News today Prime Minister Justin Trudeau. “After careful review of changed circumstances, we will be informing the National Energy Board that we will no longer be proceeding with our Energy East and Eastern Mainline applications,” Girling said, adding the company is also withdrawing the project from Quebec’s environmental review process. Regardless of “changed circusmstances” related to when an Energy East project might optimally be required next decade given the likely construction and operation of KXL, TMX expansion and Enbridge Line 3 expansion, none of that detracts from how dysfunctional the regulatory process applied to this project was , and the apparent indifference of the Trudeau government to that dysfunction. Just days after Dominion Energy and Duke Energy prevailed in … Trudeau Government launched the “modernization” of the NEB, which started promisingly but has faltered of late. Thomas F. Farrell, II, Dominion Energy chairman, president, and chief executive officer, and Lynn J. ACP Releases Dominion Energy and Duke Energy Cancel the Atlantic Coast Pipeline Today we announced that we are no longer moving forward with the Atlantic Coast Pipeline (ACP). TransCanada’s announcement follows the NEB Energy East Panel’s decision to consider upstream and downstream greenhouse gas (GHG) emissions for the projects. After the Liberals formed government in late 2015, pipeline operators were promised no projects would be required to start over, but a 2016 conflict of interest scandal forced the NEB’s Energy East review panel to resign, sending TransCanada back to square one. 1/5 — Andrew Scheer (@AndrewScheer) October 5, 2017It would have required co-operation among the federal government, six provinces, 75 … Canadian Energy Pipeline Association (statement): CEPA is extremely disappointed that the Energy East Pipeline and Eastern Mainline Project will not be moving forward. We encountered an issue signing you up. Finally, the modernization expert panel reported in the spring with a number of solid recommendations for reform, many of which were ignored in Carr’s subsequent discussion paper, which raised a big red flag for pipeline operators like TransCanada. “We believed if TransCanada continued with the process, the project would be approved. Duke Energy of Charlotte and Dominion Energy of Richmond, Va., made the announcement, citing “ongoing delays and increasing cost uncertainty which threaten the economic viability of the project,” according to a news release. The July 6, 2013 the fire and explosio… Someone is lying about why the Energy East pipeline project was cancelled. Duke Energy and Dominion Energy announced Sunday they are canceling plans for the 600-mile Atlantic Coast Pipeline that was to run through eight North Carolina counties. And that that is very difficult for getting a project to a successful outcome. With the Energy East pipeline project cancelled by TransCanada, the Conservatives are blaming Justin Trudeau and his energy policies. And they have been challenged that our regulatory system isn’t as neighbourly as maybe we would like to think. Canada's tar sands. Dr. Kent Fellows, economist, School of Public Policy, Univ. Energy East Pipeline Could Be Cancelled By TransCanada The company says changes to the review process have affected the project's viability. The loss of this major project means the loss of thousands of jobs and billions of dollars for Canada, and will significantly impact our country’s ability to access markets for our oil and gas. We should not be happy that Energy East was cancelled. This may just be TransCanada jumping the gun faster than the NEB. LNG and fracking in BC. Trans Mountain pipeline. CALGARY — TransCanada has cancelled plans for the Energy East pipeline and Eastern Mainline projects that were to take Alberta oilsands production … Connect with us on the following social media platforms. Subscriber content. [With an NEB review of a pipeline project] you didn’t get the decisions that pleased everybody but you never do in a regulatory system. Simply put,economic realities killed this pipeline stone dead. Any project that has spent  $1 billion dollars in pursuit of regulatory approval of  a project that has yet even have hearings commence is stuck with an utterly dysfunctional regulatory system. Canada's climate leadership. Our Alberta readers are fuming – and they’re not shy about telling me why on social media or by email. There was no consensus on which factors were most responsible for TransCanada’s decision, which makes it impossible for me to arrive at a conclusion. So, did regulation kill Energy East? Canadian attitudes toward the Alberta-based oil industry have become more negative, though there is still plenty of support for new pipelines as long as governments support energy transition policies. Canada climate & energy. (CNN) Dominion Energy and Duke Energy … Natural Resources Minister Jim Carr claims including upstream and downstream emissions was included in Ottawa’s Jan. 2016 interim principles, but that is not true, only upstream emissions were. If you enjoyed this article, subscribe to receive more just like it. Reasons include Canadian regulatory uncertainty, changed economics, opposition in Quebec and from First Nations Canadians outside the Wildrose Province may be shocked to learn just how angry Albertans are about TransCanada’s decision to cancel the Energy East pipeline project. Forest Conservation. Arctic Refuge Drilling. Does that support the argument that Energy East isn’t required? CALGARY – TransCanada has cancelled plans for the Energy East pipeline and Eastern Mainline projects that were to take Alberta oilsands production to Quebec and New Brunswick. Energy East pipeline… TransCanada Corp. (TSX:TRP) has cancelled its $15.7-billion proposed Energy East pipeline, cutting off a potential conduit to bring more western Canadian oil to … Duke Energy of Charlotte and Dominion Energy of Richmond, Va., made the announcement, citing “ongoing delays and increasing cost uncertainty which threaten the economic viability of the project,” according to a news […] We will use the same amount of oil either way, except now we will support some foreign dictators with terrible environmental controls in their country, have the risk of tanker accidents and possibly killing whales, rail road accidents, etc. The project was cancelled on Oct. 5, 2017 by TC Energy. Dominion Energy and Duke Energy announced the cancellation of the Atlantic Coast Pipeline Sunday because of ongoing delays and increasing costs.The energy … The move came after the National Energy Board said its review would now consider indirect greenhouse gas emissions. Terrible news this morning about the Energy East pipeline. Make no mistake, Justin Trudeau is to blame. 1. Unauthorized distribution, transmission or republication strictly prohibited. Rather than try, below readers will find excerpts from my expert interviews and official statements by industry groups and politicians. Amazon Sacred Headwaters. This is evidence of how a lack of clarity and an unclear decision-making process regarding pipeline projects in Canada are challenging the energy sector’s ability to be competitive in the world market. Sign up to receive daily headline news from the Calgary Herald, a division of Postmedia Network Inc. Oil prices plummeted, significantly lowering Alberta oil sands output projections. This is an opportunity to improve the social fabric of Northern Manitoba instead. TransCanada CEO Russ Girling in 2013 announcing the company is moving forward with Energy East Pipeline project at a news conference in Calgary. I hear a fairly consistent message from them that Canada had a strong reputation of a country with rule of law, where there is transparency of the regulatory system. Could carbon policies in export markets, which would receive about 60 per cent of Energy East’s product, render the project uneconomic? Energy East would have carried about 1.1 million barrels of oil a day from Alberta and Saskatchewan to eastern Canadian refineries and a marine terminal in New Brunswick, on Canada’s Atlantic Coast. Essentially, you undermine the strength of these regulatory systems based on the rule of law. The initial project would have converted about 3,000 km of natural gas pipeline, which currently carries natural gas from Alberta to the Ontario-Quebec border, to diluted bitumen transportation, The $12 billion pipeline would have been the longest in North America when complete. If you don't see it please check your junk folder. Please try again, 365 Bloor Street East, Toronto, Ontario, M4W 3L4. Energy 'You don't want to be against everything': Will the Energy East pipeline be an easier sell than Gateway? A great deal has changed since the company formally launched Energy East in 2013: As most of my experts opined during their interviews, this is a very complicated issue. With the Energy East pipeline project cancelled by TransCanada, the Conservatives are blaming Justin Trudeau and his energy policies. If you want to kill projects, have long delays, they get very costly. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. The Calgary-based company said previously … The Quebec government wasn’t hostile to Energy East but many mayors were, and public support for new pipelines is lowest in Quebec. Nenshi, Saint John mayor plead for swift review of Energy East pipeline, Federal government won't bend on pipeline emissions review: Carr, http://calgaryherald.com/business/energy/energy-east-pipeline-review-topics-to-be-released-may-include-ghg-emissions, tap here to see other videos from our team, expressed disappointment in the cancellation. So, why did TransCanada axe Energy East after spending $1 billion to this point? They blame Justin Trudeau and the Liberals or Rachel Notley and the Alberta NDP or Quebec or environmentalists and First Nations – there are plenty of scapegoats to go around. Fellows argues that the NEB had an obligation to consider that scenario under its existing mandate, hence the inclusion of downstream emissions. But the Liberals says market forces are … Polling data shows outright opposition to new pipelines remains firm around 21 per cent, but more Canadians are moving from supporters to neutral. With files from Bloomberg and The Canadian Press. October 9, 2017 Markham Hislop Markham on Energy All 1.1 million b/d of Energy East capacity was legally committed to by oil producers for 20 years – that is the business case But the much lower 2017 forecast suggests Energy East isn’t required until after 2030. The end of the Energy East pipeline doesn't mean the end of Western Canadian oil production. A welcome email is on its way. It’s been almost three years since the Energy East pipeline project was cancelled, yet it continues to loom large in the national conversation. Continually change the rules and they will be uneconomic. Stop oil trains. TransCanada blames “regulatory uncertainty” for Energy East withdrawal, evidence thus far supports that view Someone is lying about why the Energy East pipeline project was cancelled. Either it’s TransCanada, which blamed the “ substantial uncertainty around the scope, timing and cost” of the federal review. Phillips 66 refinery. But the Liberals says market forces are to blame. Energy East was primarily for export. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. There is shock from the energy sector on Thursday as Calgary-based TransCanada announced it would be dropping the idea of a pipeline from Alberta to the east coast. Last month when the NEB released its increased scope for dealing with greenhouse gas emissions, one of the clauses of theirs was they were going to take seriously policies to reduce greenhouse gas emissions in Canada and expected policies abroad. TransCanada cancels $15.7B Energy East pipeline project. CALGARY – TransCanada has cancelled plans for the Energy East pipeline and Eastern Mainline projects that were to take Alberta oilsands production … TransCanada’s decision to pull the plug on the Energy East pipeline has disappointed the oil sector and drawn ire from all sides of the Alberta political spectrum. Yeah, there could have been improvements, but do you have to restructure it that way and bring politics to the fore in the process? Its cancellation was a symptom – not the key cause – of reduced future oil production. Energy producers in Alberta had hoped the TransCanada projects would help them diversify their markets, with most of the existing pipeline network linking the energy-rich province to the U.S. Midwest and Gulf Coast. Canadians outside the Wildrose Province may be shocked to learn just how angry Albertans are about TransCanada’s decision to cancel the Energy East pipeline project. Someone in the Prime Minister’s Office has done that calculation. Our government understands that deliberation on upstream emissions and land-use integrity is important and must continue. The criteria was introduced uniquely for the Energy East pipeline. The Energy East pipeline would have carried Alberta crude to refineries in the Maritimes. Has this eroding support affected how Trudeau and his advisors’ view of the number of pipeline projects they can get away with supporting (Energy East would have been the fourth, assuming Keystone XL is a go)? What this means is looking at what other regions and other jurisdictions within Canada are doing to decrease emissions and figuring out whether there’s still going to be a market for the crude oil. The National Energy Board needs to send a clear message on what the future of project reviews look like in Canada. TransCanada’s own 890,000 b/d Keystone XL project was killed by Barack Obama in 2015, then revived by Donald Trump in 2017. The Owners of the Keystone Pipeline Just Canceled a Project in Canada. October 6, 2017. Readers are welcome to come to their own conclusions. TransCanada was forced to make the difficult decision to abandon its project, following years of hard work and millions of dollars in investment. TransCanada warned then that the project could ultimately be cancelled. New Brunswick Premier Brian Gallant expressed disappointment in the cancellation and said he blames the company’s decision on world market conditions and the negative impact of lower oil prices. This issue is a wildcard. ENERGY EAST PIPELINE Energy East Pipeline $12 billion - Investment required to build Energy East 4,600 km – length of 42” pipeline from Alberta to New Brunswick 1.1 million bpd – Total Capacity 14, 000 – Jobs during development and construction DEREK BURNEY HAS TAKEN UP the cause of the Energy East pipeline. A hearing regarding the status of the construction of the controversial Energy East Pipeline in Canada was suspended on Monday at the orders of … This decision highlights the importance of diversifying market access and the subsequent national priority that must be placed on the Trans Mountain expansion project. This was a necessary decision given the legal uncertainties facing the project, and we deeply regret that we were unable to complete this project. TransCanada has cancelled the Energy East pipeline that was to run all the way from the oil sands in Alberta to eastern Canada, at the cost of almost C$ 16 billion. TransCanada’s cancelled Energy East project has Canadian utilities looking south. With the next federal election in 2019, might fierce opposition to Energy East similar to that against Trans Mountain Expansion on the West Coast tip the electoral balance? The goal posts seem to move on a fairly regular basis, as opposed to being a process everyone recognizes and understands. TransCanada is cancelling plans for the proposed Energy East pipeline and Eastern Mainline projects. It was one of the best regulatory systems. Tim McMillan, president and CEO of the Canadian Association of Petroleum Producers (interview): I talk to investors when travelling overseas and when they’re here in Canada. Home Markham on Energy Is Prime Minister Trudeau lying about why Energy East pipeline was cancelled? Go to Hudson’s Bay from Manitoba instead. Give the economic benefits to those who deserve it most. Energy economist Kent Fellows argues that keeping the 3,000 kilometres of pipe from Alberta to Ontario for natural gas instead of converting to oil as part of Energy East makes more economic sense now. In other words, if this is true – and thus far TransCanada is not speaking to reporters about Energy East – then Trudeau is dead wrong about “market forces” killing the pipeline project. if there isn’t, or if the market’s not going to be big enough, they would have the responsibility to deny the application. In the span of 24 hours, a major natural gas pipeline was cancelled and a judge ordered the Dakota Access Pipeline shut down. Industry supporters say the NEB review process lies in utter disarray – and they have a point. submitted by Sustainable North Grenville Sustainable North Grenville is quietly celebrating yesterday’s announcement that TransCanada Pipeline has officially terminated the company’s proposed Energy East pipeline project. In addition to the cost of the pipeline — Dominion and Duke had spent $3.4 billion on it already — the companies also cited an uncertain regulatory environment as a reason why … Read more about cookies here. 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