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Alberta government seeking $1.3B from U.S. over cancelled Keystone XL pipeline

Click to play video: 'Alberta government seeking $1.3B from U.S. over cancelled Keystone XL pipeline'
Alberta government seeking $1.3B from U.S. over cancelled Keystone XL pipeline
The Alberta government is seeking $1.3 billion in compensation from the U.S. government in the wake of the cancellation of the Keystone XL pipeline’s permit. Tom Vernon reports. – Feb 9, 2022

Alberta is seeking $1.3 billion in compensation from the U.S. government in the wake of President Joe Biden’s cancellation of the Keystone XL pipeline’s permit.

The provincial government says it has filed a notice of intent to launch a claim under legacy rules tied to the old North American Free Trade Agreement, or NAFTA.

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

Biden revoked the permit for Keystone XL shortly after his inauguration last year.

Click to play video: 'What happens to Alberta’s $1.3B investment into Keystone XL?'
What happens to Alberta’s $1.3B investment into Keystone XL?

Calgary-based TC Energy, the company behind the proposed pipeline, filed a similar claim in July seeking US$15 billion, after formally cancelling the project and taking a $2.2-billion writedown.

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

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