TransCanada has asked the National Energy Board (NEB) for a 30-day suspension of the Energy East pipeline review to study the implications of the regulator's decision to include consideration of upstream and downstream GHGs, and other factors.
The NEB announced the groundbreaking change to its process in late August. It also applies to the smaller Eastern Mainline project review.
In a statement, TransCanada said it needs time to assess how the changes will impact the cost, schedule and viability of the two pipelines, however, observers suggest that the request could signal the death knell for Energy East.
Energy East, which proposes to ship up to 1.1 million bbls/d of oil from Alberta to the Atlantic Coast — with much of the crude bound for export markets — has drawn entrenched criticism from environmentalists and some municipalities along the cross-Canada route.
"Should TransCanada decide not to proceed with the projects after a thorough review of the impact of the NEB's amendments, the carrying value of its investment in the projects as well as its ability to recover development costs incurred to date would be negatively impacted," the company said.