A depot used to store pipes for Transcanada Corp's planned Keystone XL oil pipeline is seen in Gascoyne North Dakota

TransCanada sues U.S. over Keystone XL pipeline rejection

A depot used to store pipes for Transcanada Corp's planned Keystone XL oil pipeline is seen in Gascoyne North DakotaBy Nia Williams and Valerie Volcovici CALGARY/WASHINGTON (Reuters) – TransCanada Corp sued the U.S government on Wednesday to reverse President Barack Obama’s rejection of the Keystone XL pipeline, and also plans to seek $15 billion in damages from a trade tribunal. TranCanada’s lawsuit in a federal court in Houston, Texas, called rejection of its permit to build the pipeline unconstitutional. In a separate action under the North American Free Trade Agreement (NAFTA), the company said the pipeline permit denial was “arbitrary and unjustified.” The company’s U.S. lawsuit does not seek monetary damages but wants the permit denial invalidated and seeks a ruling that no future president can block construction.

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