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Canada’s Alberta province files trade challenge over scrapped Keystone XL pipeline -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: A group of deer gathers at the depot that houses pipes for KeystoneXL’s planned oil pipeline, Gascoyne in North Dakota on January 25, 2017. REUTERS/Terray Silvester

Nia Williams

CALGARY, Alberta (Reuters – Wednesday’s formalization of a trade contest by Alberta to recover investment in Keystone XL, a Canadian oil pipeline that was shut down in 2021 following the cancellation of a key permit.

Canada’s biggest oil-producing province, Alberta, has invested C$1.3B in the project. The United States is seeking to compensate Alberta through the legacy North American Free Trade Agreement claim. This claim was made under the Canada-United States Mexico Agreement.

Keystone XL had 830,000 barrels of crude oil daily from Alberta to America’s Midwest. But, the project was hampered for over a decade by regulatory and environmental obstacles. Then, U.S. President Joe Biden canceled a presidential permit in order to end the delay.

TC Energy (NYSE) filed a NAFTA Legacy Claim last year, seeking $15 billion more in damages.

Sonya Savage, Alberta Energy Minister, stated in a statement that “after examining all options, we have determined that a legacy claim would be the best avenue for recovering the government’s investment into the Keystone XL Project.”

We are still disappointed by the circumstances and events that caused the project to be cancelled.

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