TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) confirmed today that after a comprehensive review of its options, and in consultation with its partner, the Government of Alberta, it has terminated the Keystone XL Pipeline Project (the Project).

TC Energy Corporation announced it is disappointed with the expected action to revoke the existing Presidential Permit for the Keystone XL pipeline.

"This is a significant milestone for the Keystone XL project," said Russ Girling, TransCanada's president and chief executive officer. "We greatly appreciate President Trump's Administration for reviewing and approving this important initiative and we look forward to working with them as we continue to invest in and strengthen North America's energy infrastructure."

“Today’s action to reapply for the Keystone XL Pipeline’s cross-border permit is an important step forward to building a 21st Century energy infrastructure system across our nation,” said Gerard. “The Keystone XL Pipeline would support tens of thousands of jobs, contribute billions of dollars to our economy, and deliver energy efficiently and safely to consumers.

The Calgary-based pipeline operator filed papers late Friday seeking arbitration under the North American Free Trade Agreement, arguing that TransCanada had every reason to believe it would win approval to build Keystone XL.

This decision will cost thousands of jobs and is an assault to American workers. It’s politics at its worst.