TransCanada Cancels Québec Oil Export Terminal Project
The Calgary-based energy company TransCanada Corporation has given up on its plans to build a marine and associated tank terminals at Cacouna, Québec, a part of the company’s CAD 12 billion Energy East project.
TransCanada says that potential alternative terminal options in Québec are being reviewed, and that Québec and New Brunswick refineries would continue to be connected directly to Energy East.
The project cancellation was welcomed by the environmentalist groups in Québec, who previously expressed concerns that construction and shipping would have a negative effect on the endangered Beluga whales.
“This decision is the result of the recommended change in status of the Beluga whales to endangered and ongoing discussions we have had with communities and key stakeholders,” said Russ Girling, TransCanada’s president and chief executive officer.
“Our goal has been to strike a balance between TransCanada’s commitment to minimizing environmental impacts and the imperative to build modern infrastructure to safely transport the energy Canadians need and consume every day.”
The 1.1 million barrels per day (bbl/d) Energy East project has secured approximately one million bbl/d of firm, long-term contracts.