The company behind a multibillion-dollar oil pipeline nixed earlier this year by US President Joe Biden’s administration has filed a claim under the North American Free Trade Agreement (NAFTA) to recover economic damages caused by the project’s cancellation.In a statement late on Monday, TC Energy Corporation said it filed a request for arbitration under a NAFTA provision that “allows companies to seek compensation for lost investment”, in relation to the Keystone XL pipeline.“We will not comment further and will follow the process as set out,” the company said.
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