 |
 |
|
|
|
National & World Ag News Headlines |
 |
TransCanada Seeks Damage Claims After Keystone XL Rejection
USAgNet - 06/29/2016
TransCanada is formally seeking $15 billion in damages tied to the rejection of the Keystone XL pipeline.
According to legal documents seen by Reuters, the Calgary-based company has failed to reach a settlement with the U.S. government after filing a notice for an arbitration claim in January.
President Barack Obama rejected the project in November following a seven-year long review, saying that the pipeline would not serve the national interest.
TransCanada said in documents seen by Reuters on Friday that it has filed a formal arbitration request under North American Free Trade Agreement provisions to recover damages and costs associated with the project.
According to Reuters, the company is seeking $15 billion in costs damages. TransCanada said in January that it had filed a notice of intent to initiate a claim under Chapter 11 of NAFTA in response to the denial of a presidential permit for the pipeline.
The project was rejected despite a 2014 U.S. State Department assessment that determined the 830,000 barrel per day pipeline would have a limited environmental impact.
|
 |
|
 |
|
Copyright © 2024 - Farms.com. All Rights Reserved. |
 |
|
