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$15-billion Keystone XL lawsuit against NAFTA suspended after Donald Trump executive order

Click to play video: 'Justin Trudeau spoke with Donald Trump about Keystone XL Pipeline' Justin Trudeau spoke with Donald Trump about Keystone XL Pipeline
WATCH: Prime Minister Justin Trudeau spoke with U.S. President Donald Trump about the Keystone XL Pipeline saying his focus was both on the economy and the environment. (Jan. 2017) – Jan 25, 2017

CALGARY – TransCanada Corp. has suspended a $15-billion lawsuit against the United States regarding its Keystone XL project following signals by U.S. President Donald Trump that he will likely approve the pipeline.

The company filed the North American Free Trade Agreement challenge last year alleging the U.S. government failed in its commitment to protect Canadian investors and ensure the company was treated in accordance with international law.

READ MORE: TransCanada refiles application seeking Keystone XL pipeline approval in Nebraska

The process before the International Centre for Settlement of Investment Disputes has been suspended until March 27.

The company maintains that former U.S. president Barack Obama rejected the pipeline to appear strong on climate change, even though the government concluded numerous times that the pipeline would not have a significant impact on greenhouse gas emissions.

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TransCanada renewed its regulatory push for the US$8-billion project after Trump asked the company to resubmit its application for a permit to build the project, shortly after his inauguration. The company also filed an application with the Nebraska Public Service Commission for state-level approval earlier this month.

The nearly 1,900-kilometre pipeline, which would carry some 830,000 barrels a day of Alberta crude towards the U.S. Gulf Coast, became a flash point for climate change activists before Obama rejected it in 2015.

WATCH: Keystone pipeline protesters chant anti-Trudeau slogans amid PM’s visit to Washington

Click to play video: 'Keystone pipeline protesters chant anti-Trudeau slogans amid PM’s visit to Washington' Keystone pipeline protesters chant anti-Trudeau slogans amid PM’s visit to Washington
Keystone pipeline protesters chant anti-Trudeau slogans amid PM’s visit to Washington – Feb 13, 2017

 

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