By Stephen Nakrosis
TC Energy Corp. on Friday said it has filed a Notice of Intent to initiate a legacy North American Free Trade Agreement claim to recover economic damages following the revocation of the Keystone XL Project's Presidential Permit.
TC Energy said it will look to recover over $15 billion in damages that it "suffered as a result of the U.S. Government's breach of its NAFTA obligations."
On his first day in office, U.S. President Joe Biden took executive action to revoke the permit for the Keystone XL oil pipeline.
Last month, TC Energy and the Albertan provincial government said they were abandoning plans for the project, which would have transported oil from Canada to the U.S.
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(END) Dow Jones Newswires
July 02, 2021 18:20 ET (22:20 GMT)Copyright (c) 2021 Dow Jones & Company, Inc.