(Washington) Pipeline company TC Energy is officially seeking compensation from the US government for canceling the overseas Keystone XL expansion project.
The Calgary-based company has formally petitioned the arbitral tribunal for “economic damage” as a result of the decision to cancel US President Joe Biden’s plan.
Permission granted by Donald Trump
Revoked presidential approval granted by his predecessor Donald Trump, when he took office in January. One of Pitton’s first results.
The decision effectively ended a 13-year conflict that has plagued three US presidents and two Canadian prime ministers.
In the process, the Keystone XL became a symbol for environmental activists determined to prevent what they saw as a dangerous and damaging expansion of Alberta’s tar sand.
The company officially gave up any hope of expansion in June, after which it filed a statement of intent to seek compensation under the former North American Free Trade Agreement (NAFTA).
Alternatively, the Canada-United States-Mexico Agreement (CUSMA) allows companies to file claims for lost investments under the terms of the previous agreement.
“As a public company, TC Energy is responsible for recovering losses incurred as a result of the cancellation of the permit to its shareholders, resulting in the suspension of the project,” the company said in a statement.
“We will not comment further and will follow the process as directed.”
U.S. State Department officials and the office of U.S. Trade Representative Catherine’s mother did not immediately respond to media inquiries on Tuesday.