TC Energy confirms the nixing of the Keystone XL Pipeline Project

TC Energy on Wednesday confirmed that it is nixing the Keystone XL Pipeline following President Biden's move to revoke a permit for the project during his first day in office.

"Construction activities to advance the Project were suspended following the revocation of its Presidential Permit on January 20, 2021," TC Energy said in a press release. "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."

The pipeline had already been partially constructed, the Associated Press noted.