TC Energy Starts NAFTA Claim over Revocation of Keystone XL Permit
TC Energy Corporation has filed a Notice of Intent to initiate a legacy North American Free Trade Agreement claim under the United States-Mexico-Canada Agreement to recover economic damages resulting from the revocation of the Keystone XL Project’s Presidential Permit. TC Energy will be seeking to recover more than USD 15 billion in damages that it has suffered as a result of the US Government’s breach of its NAFTA obligations. The Notice of Intent was filed with the US Department of State, Office of the Legal Adviser.
TC Energy Corporation confirmed on 15 June that after a comprehensive review of its options, and in consultation with its partner, the Government of Alberta, it has terminated the Keystone XL Pipeline Project. Construction activities to advance the Project were suspended following the revocation of its Presidential Permit on January 20, 2021. The Company will continue to coordinate with regulators, stakeholders and Indigenous groups to meet its environmental and regulatory commitments and ensure a safe termination of and exit from the Project.