TransCanada has announced another round of layoffs in Calgary – but the scope of the job losses is unknown.
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In a statement, the company said it is pulling the application, filed in October with the Nebraska Public Service Commission, while it considers “next steps” following U.S. President Barack Obama’s decision to deny the pipeline project.
Obama rejected Keystone on November 6 after seven years of review, saying it would undercut US global leadership on climate change and wouldn’t make a meaningful contribution to the nation’s economy or energy security. The company said about 40% of the $2.4 billion spent on the pipeline already is recoverable through the sale of tangible assets if TransCanada writes off the expense.
Mr. Girling has indicated his company may reapply for permission with USA federal regulators in the future.
The pipeline was projected to carry 800,000 barrels a day of crude from Canada and North Dakota to Nebraska, where existing pipelines would bring it to Gulf Coast refineries. If completed, the pipeline system would have spanned 1,700 miles and crossed Nebraska and five other states.
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In the meantime, it has withdrawn its application to get its Nebraska route approved by the state Public Service Commission.
