Alberta, Canada raises trade challenges over scrapped Keystone XL pipeline


Calgary, Alberta — Alberta, Canada officially launched a trade challenge on Wednesday to recover investment in the Keystone XL oil pipeline, which was abandoned in 2021 after the United States revoked a major permit.

Alberta, Canada’s largest oil producer, has invested C $ 1.3 billion in the project seeking compensation from the United States under the new Canada-US-Mexico Agreement through claims of the traditional North American Free Trade Agreement.

Keystone XL would have carried 830,000 barrels of oil per day from Alberta to the Midwest, but after more than a decade of environmental opposition and regulatory hurdles, US President Joe Biden said. Finally, the project was terminated by revoking the president’s permission. Year.

Pipeline developer TC Energy filed a legacy claim with NAFTA last year seeking damages in excess of $ 15 billion.

“After reviewing all available options, we have determined that legacy claims are the best way to recover government investment in the Keystone XL project,” Alberta Energy Minister Sonya Savage said in a statement. ..

“We continue to be disappointed with the events and circumstances that led to the cancellation of this project.”

Near Williams

Reuters

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