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Tuesday, October 19, 2021

TC Energy files legacy NAFTA claim; seeks $15B in damages after Keystone XL cancellation


TC Energy says it will seek more than US$15 billion from the U.S. government in the wake of President Joe Biden’s cancellation of the Keystone XL pipeline’s damage permit.

The Calgary-based company says it launched a claim under the legacy rules tied to the old North American Free Trade Agreement, or NAFTA, because of what it says is the U.S. government’s breach of its free trade obligations.

Read more:
Alberta’s Opposition, researchers react after TC Energy walks away from Keystone XL pipeline

The company has filed a notice of intent with the U.S. Department of State.

Biden revoked the permit for Keystone XL shortly after his inauguration. TC Energy formally cancelled the project earlier this month, taking a $2.2-billion writedown.

Read more:
TC Energy terminates Keystone XL pipeline months after Biden revokes permit

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The proposed pipeline had been the subject of a decade-plus battle the pitted the energy industry against environmentalists.

The Alberta government invested in the project and was left on the hook for $1.3 billion when it was cancelled.

Watch below: Some videos about the Keystone XL pipeline.




© 2021 The Canadian Press






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