CALGARY – TC Energy Corp. is walking away from the Keystone XL pipeline project, ending a decade-plus battle that pitted the energy industry against environmentalists as oilsands producers sought to export Canadian crude.
Construction on the pipeline was suspended earlier this year after newly elected U.S. President Joe Biden fulfilled a campaign promise to cancel its presidential permit in January.
TC Energy last month took a $2.2-billion writedown on the cancelled project, which pushed the company to a loss in its most recent quarterly earnings.
