The Central Pipeline (CP) is set to be cancelled.
According to the company, it is not possible to continue with the construction of the pipeline.
The pipeline has a capacity of 8.4 billion cubic meters, but it will not be able to carry the water needed to power all the pipelines, said a spokesperson for the company.
The company is not able to meet the demand of the CP, said the spokesperson.
“It is not feasible to continue the construction,” the spokesperson added.
The CPA told Reuters the company is also not able for CP to carry water from the south coast of Russia to the northernmost tip of Alaska, where the pipeline is to cross.
The CP has a planned completion date of March 2020.
The cancellation is not a major setback for the CP project, but the CP is still one of the most controversial of the oil and gas pipelines in the world.
The project is a $1.7 trillion oil pipeline that is supposed to carry oil from the Caspian Sea to the Mediterranean Sea, but critics say it will be a major boon for Russia.
The government in Moscow has been accused of being slow to approve the project, which is partly funded by Russian companies, including Rosneft, which owns 40 percent of the CPA.
Earlier this year, Russia’s state-owned energy company Rosneftegaz said the CP would be completed by 2025, but then announced it would be cancelled in 2022.
“There is no reason why the project should not be carried out in the future,” Rosneff said.