image
TransCanada suspends $15-bn lawsuit against US after Trump approves Keystone pipeline project
Calgary, Mar 2 (IBNS): With the approval of Keystone pipeline project by US President Donald Trump, TransCanada Corp has suspended their lawsuit against the US government, which they had claimed towards damages and costs amounting to 15 billion dollars, said media reports.
The Obama administration had earlier rejected the project mainly due to the pressure of environmental lobby which had been campaigning for last seven years.
The lawsuit was initiated under North American Free Trade Agreement (NAFTA).
In the website of International Center for the Settlement of Investments Disputes, it was announced that Trans Canada's centering pipeline had been suspended until 27th March,2017 pursuant to mutual agreement.
The Keystone XL pipeline was intended to link existing pipeline networks in Canada and USA to transport crude oil from Alberta and North Dakota to refineries in Illinois and eventually to Gulf of Mexico.
(Reporting by Chandan Som)
Top Headlines
-
News
'Our pilot met with an accident...': Judge pleads for help amid mob attack after 9-hour hostage ordeal during SIR protest
April 02, 2026
-
News
'Most polarised state': CJI Kant raps Bengal govt over 9-hour hostage of judicial officers
April 02, 2026
-
News
'BJP plotting Presidents Rule, dont fall in the trap': Mamata Banerjee on Malda unrest, urges peace
April 02, 2026
-
News
Amit Shah to camp in West Bengal for 15 days during Assembly polls; predicts Mamatas defeat in state and Bhabanipur
April 02, 2026
-
News
Irans Revolutionary Guards threaten major US tech firms with retaliatory strikes starting April 1
March 31, 2026
-
News
'Come close, we are waiting for you': Iran signals warning as US expands military options in Middle East
March 31, 2026
-
News
'Open Strait of Hormuz or face devastation': Donald Trump issues stark warning
March 31, 2026
-
News
Tennis icon Leander Paes joins BJP ahead of Bengal polls
March 31, 2026
-
News
Unsubstantial allegations: Calcutta HC dismisses plea on ECIs officer transfers in Bengal
March 31, 2026
-
News
'India has become free from Naxal violence: Amit Shah makes bold claim ahead of deadline
March 30, 2026
