Keystone XL developer to seek $15bn in damages from Biden administration

TC Energy claims that the government breached NAFTA obligations by blocking the construction of the project

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North American energy infrastructure company TC Energy, owner of the major Keystone XL Pipeline will seek $15 billion (£10.8bn) in damages after the project was blocked by President Biden.

The project, supported by ex-President Trump was designed to connect the world’s third-largest oil reserve in Western Canada to a giant block of refineries on the US Gulf Coast.

The so-called Keystone XL Pipeline aimed to carry more than 800,000 barrels of oil a day.

In January, Joe Biden signed an executive order to halt the construction of the oil pipeline.

One month ago, TC Energy confirmed that it plugged the plug on the controversial 1,200-mile project.

In a statement, the firm said: “TC Energy will be seeking to recover more than $15 billion (£10.8bn) in damages that it has suffered as a result of the US government’s breach of its North American Free Trade Agreement obligations.”

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