TransCanada to Abandon Energy East and Eastern Mainline Projects

Reuters, October 5, 2017

TransCanada Corp said on Thursday it would abandon its Energy East and Eastern Mainline pipeline projects, following tough review by Canada’s energy regulator. The company said it expects a C$1 billion non-cash charge in the fourth quarter due to the termination of the projects. Canada’s National Energy Board (NEB) expanded the scope of its review of Energy East in August, saying it would consider the project’s indirect greenhouse gas contributions and provide “more visibility” to the evaluation of risks associated with accidents such as oil spills.

(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Saumyadeb Chakrabarty)

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