The Alberta government is ending its involvement in the Keystone XL project after the pipeline's presidential approval permit was revoked in January.
The Albertan government reiterated Wednesday that the cost of backing the project is expected to be around $1.3 billion, in line with its estimate outlined in the most recent provincial budget.
The announcements come after USA president Joe Biden signed an executive order to revoke the pipeline's permit on his first day in office in January - a move he had promised during his election campaign. "Having said this, Alberta will continue to play an important role in a reliable, affordable North American energy system".
"We remain undeterred in our commitment to stand up for Alberta's energy sector and the hard-working people it employs". She was not available for an interview Wednesday.
On Wednesday, he said the province will still work with USA partners to play a role in meeting American energy demands.
"We remain disappointed and frustrated with the circumstances surrounding the Keystone XL project, including the cancellation of the presidential permit for the pipeline's border crossing", Kenney said.
The 1,200-mile line, created to carry crude from Canada's oil sands through Montana, South Dakota and southern Nebraska, has faced years of pointed opposition from environmental and community groups, as well as a number of legal battles that landed the project before the U.S. Supreme Court.
The Albertan government was a key backer of Keystone XL, striking a deal for a $1.5-billion equity investment in the project in 2020 and offering $6 billion in loan backstops for 2021.
Calgary-based TC Energy said it would work with government agencies "to ensure a safe termination of and exit from" the partially built line, which was to transport crude from the oil sand fields of western Canada to Steele City, Neb.
The company said it would continue to look for opportunities in the energy transition and in powering existing US assets with renewable energy.