Learn more about Hart Energy Conferences
Get our latest conference schedules, updates and insights straight to your inbox.
The Canadian province of Alberta formally initiated a trade challenge on Feb. 9 to recover its investment in the Keystone XL oil pipeline, which was scrapped in 2021 after the United States cancelled a key permit.
Alberta, Canada's largest oil-producing province, had invested CA$1.3 billion in the project and is seeking compensation from the United States through a legacy North American Free Trade Agreement claim, under the new Canada-United States-Mexico Agreement.
Keystone XL would have carried 830,000 barrels per day of oil from Alberta to the U.S. Midwest, but was held up for more than a decade by environmental opposition and regulatory hurdles, before U.S. President Joe Biden finally scuttled the project by revoking a presidential permit last year.
The pipeline's developer TC Energy also filed a legacy NAFTA claim seeking more than $15 billion in damages last year.
"After examining all available options, we have determined a legacy claim is the best avenue to recover the government's investment in the Keystone XL project," Alberta Energy Minister Sonya Savage said in a statement.
"We remain disappointed about the events and circumstances that led to the cancellation of this project."
Recommended Reading
Dragos: IP Theft, Targeted OT Attacks on the Rise
2024-02-20 - Dragos’ annual cybersecurity review reveals three new threat groups, and the company’s CEO urges focus on specific vulnerabilities.
Cyber-informed Engineering Can Fortify OT Security
2024-03-12 - Ransomware is still a top threat in cybersecurity even as hacktivist attacks trend up, and the oil and gas sector must address both to maintain operational security.
Exclusive: Meet the Data Van, the Heart of Completion Operations
2024-01-23 - In this Hart Energy Live Exclusive, NexTier’s Ben Dickinson describes how the data van centralizes completions controls and data and reduces on-site personnel requirements as the industry moves ever closer to remote fracs.
Drilling Tech Rides a Wave
2024-01-30 - Can new designs, automation and aerospace inspiration boost drilling results?
Tech Trends: Autonomous Drone Aims to Disrupt Subsea Inspection
2024-01-30 - The partners in the project are working to usher in a new era of inspection efficiencies.