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An Indigenous-backed energy company is seeking $50 million (US$38.2 million) from pipeline operator TC Energy Corp. after a falling out between partners on the now-abandoned Keystone XL project.
Natural Law Energy Inc., a group representing a number of Indigenous communities in Western Canada, is asking for “financial compensation for all the losses of income and the lost opportunities for future income” associated with an investment agreement signed in November 2020, according to a letter signed by Natural Law Chief Executive Officer Travis Meguinis and seen by Bloomberg News.
Natural Law agreed that year to invest as much as $1 billion in Keystone XL. US President Joe Biden pulled a key permit after taking office in January 2021, squelching plans to complete the 830,000-barrel-a-day pipeline.
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