U.S. President Joe Biden’s decision to cancel the Keystone XL permit is likely to be the project's death knell, after more than a decade of legal battles and shifting fortunes.
Analysts wonder if the timing portends trouble for infrastructure projects by the oil and gas industry with the new administration.
President-elect Joe Biden is planning to cancel the permit for the $9 billion Keystone XL pipeline project as one of his first acts in office, and perhaps as soon as his first day, according to a source familiar with his thinking.
An official says that the pipeline’s construction will not resume, even with permission from Denmark.
Driftwood will help meet soaring demand for LNG, says co-founder Souki.
US has threatened sanctions on companies involved in the project.
Project includes a processing plant and gathering system.
State Department report is expected to be issued later this week.