29.2 C
Ontario
Monday, July 26, 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

Story continues below advertisement

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






Source link

Latest news

Motorola’s next Edge flagship phone might drop the curved display

Motorola might soon release a sequel to its flagship Edge phones — albeit without their signature feature. OnLeaks and Pricebaba have shared what...

Awareness poor among masses ahead of third wave, finds Surv- The New Indian Express

Express News Service RAIPUR: A year and a half into the...

Tokyo Olympics: Simone Biles fails to qualify for uneven bars finals | Tokyo Olympics News

TOKYO: Simone Biles' shot at a record five gold medals at the Tokyo Olympics suffered a blow on Sunday when the U.S. gymnast...

Israeli airlines launch first direct flights to Morocco

JERUSALEM: Two Israeli airlines launched their first commercial flights between Israel and Morocco on Sunday, less than a year after the countries officially...
Related news

Motorola’s next Edge flagship phone might drop the curved display

Motorola might soon release a sequel to its flagship Edge phones — albeit without their signature feature. OnLeaks and Pricebaba have shared what...

Awareness poor among masses ahead of third wave, finds Surv- The New Indian Express

Express News Service RAIPUR: A year and a half into the...

Tokyo Olympics: Simone Biles fails to qualify for uneven bars finals | Tokyo Olympics News

TOKYO: Simone Biles' shot at a record five gold medals at the Tokyo Olympics suffered a blow on Sunday when the U.S. gymnast...

Israeli airlines launch first direct flights to Morocco

JERUSALEM: Two Israeli airlines launched their first commercial flights between Israel and Morocco on Sunday, less than a year after the countries officially...