TransCanada Corp has suspended a $15billion lawsuit filed against the United States over the Keystone XL pipeline.
President Donald Trump approved the controversial pipeline project last month.
It had previously been blocked by President Barack Obama’s administration.
Environmentalists have campaigned against the pipeline for more than seven years.
Obama’s blocking of the project led to TransCanada filing a dispute against the US last July.
But the action has now been suspended.
In an entry dated Monday, the website of the International Centre for the Settlement of Investment Disputes showed TransCanada’s legal challenge over the pipeline was suspended until March 27, pursuant to mutual agreement.
TransCanada confirmed the challenge has been suspended.
The corporation had sought $15 billion in damages, according to legal papers, seeking to recover what it says are costs and damages.
The Keystone XL was designed to link existing pipeline networks in Canada and the United States to bring crude from Alberta and North Dakota to refineries in Illinois and, eventually, the Gulf of Mexico coast.