Earlier this month, Northern Cross Limited, a company based in
the western Canadian territory of Yukon, sued the Yukon government
over its moratorium on fracking.
The company, which has been exploring the Eagle Plains region in
the north of the territory, says the moratorium is a de facto
"expropriation" of the company's oil and gas
The company owns fifteen exploration permits in the Eagle Plains
area and has identified a wealth of unconventional resources in the
region—resources that would require hydraulic fracturing to
extract, the company's Statement of Claim says.
The Yukon government, however, banned fracking in all but the
southeast portion of the territory in 2015, and in 2016 a new
government rose to power in part on its promise to ban fracking
throughout the territory.
In total, Northern Cross claims damages of $2.2 billion
Canadian, $1.8 billion of which it identifies as fair market value
for resources proven to exist on the lands.
Northern Cross notes that it has always made plain its
plans for unconventional resources on the lands, and that the
government gave no warning of an impending moratorium.
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