CALGARY — New Brunswick Premier Brian Gallant says he will do whatever necessary to make sure the $15.7-billion Energy East pipeline proceeds and delivers crude — and jobs — to his province. It indicated that it may need to record a writedown of its investment in the project, if it is discontinued. “There’s no sugar coating it, TransCanada suspending its application in order to re-evaluate the viability of the Energy East pipeline project is not good news for those who want to see that pipeline built,” he stated. In January, the NEB invalidated nearly two years of decisions made by the previous panel and a new panel was appointed. The Energy East review is taking place at the same time that the government considers a sweeping overhaul of the NEB following a report in May that said the system is broken and the NEB should be split into two agencies.

Source: National Post September 08, 2017 10:52 UTC