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Keystone XL Pipeline

TransCanada seeks $15B for rejection of Keystone pipeline

The company that proposed the Keystone XL pipeline is seeking $15 billion in damages from the federal government after the Obama administration rejected the Canada-to-Texas project, a company spokesman said Monday.

TransCanada Inc. filed a request for arbitration Friday under the North American Free Trade Agreement, arguing that the State Department's actions led the company to believe the project would win approval. Obama rejected a federal permit for the project in November, saying it would have undercut the nation's reputation as a global leader on addressing climate change.

The Calgary-based company argues that it moved forward with the project under the assumption...

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