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TransCanada formally seeks NAFTA damages in Keystone XL rejection

June 26, 2016 by · Leave a Comment 

TransCanada Corp is formally requesting arbitration over U.S. President Barack Obama's rejection of the Keystone XL pipeline, seeking $15 billion in damages, the company said in legal papers dated Friday. TransCanada submitted a notice for an arbitration claim in January and had then tried to negotiate with the U.S. government to “reach an amicable settlement,” the company said in files posted on the pipeline's website. TransCanada said it then filed its formal arbitration request under North American Free Trade Agreement (NAFTA) provisions, seeking to…

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TransCanada formally seeks NAFTA damages in Keystone XL rejection