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Keystone Pipeline Developers Seek $15 Billion From U.S. for Cancellation

  • TC Energy Corp. blames wild ‘regulatory roller coaster’
  • Nafta case may be biggest trade appeal ever against U.S.
Pipes for the Keystone XL pipeline stacked in a yard near Oyen, Alberta, Canada, in January.
Pipes for the Keystone XL pipeline stacked in a yard near Oyen, Alberta, Canada, in January.Photographer: Jason Franson/Bloomberg

Developers of Keystone XL are seeking to recoup more than $15 billion in damages connected to President Joe Biden’s decision to yank a permit for the border-crossing oil pipeline even after construction began.

With a request for arbitration filed Monday, Calgary-based TC Energy Corp. formally opened one of the largest trade appeals ever against the U.S. and asked to put its long-running dispute over Keystone XL in front of an international arbitration panel. The legal claim is being mounted under provisions of the North American Free Trade Agreement that allow foreign companies to challenge U.S. policy decisions.