The developer of the Keystone XL pipeline says it will pull the plug on the controversial project months after the Biden administration revoked its permit.
TC Energy said it terminated the Keystone XL Pipeline Project “after a comprehensive review of its options, and in consultation with its partner, the Government of Alberta.”
The developer said it suspended construction activities following the revocation of its presidential permit in January.
“The Company will continue to coordinate with regulators, stakeholders and Indigenous groups to meet its environmental and regulatory commitments and ensure a safe termination of and exit from the Project,” it said in a statement on Wednesday.
The move puts an end to a years-long battle between the oil industry and environmentalists which trickled into politics and US and Canadian courts.
The project aimed to carry oil from the tar sands of Canada into the US.
In one of his first actions as US president, Joe Biden revoked the permit issued in March 2019 for the pipeline, which would have carried oil from Canada to the US, stating that its construction was not consistent with his administration’s economic and climate goals.
Biden’s predecessor, Donald Trump, revived the project after Barack Obama rejected the project in 2015 due to environmental concerns.