Alaska OKs New Gas Pipeline

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Alaska OKs New Gas Pipeline

Post#1 » Mon Aug 04, 2008 12:42 am

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Alaska OKs New Gas Pipeline

Aug. 02, 2008
Alaska lawmakers approved a state license Friday for TransCanada Corp. to pursue construction of a natural gas pipeline, ending a decades-long battle to open up 4.5 billion cubic feet of North Slope natural gas daily for use in North American markets.

"It will be our Alaska gas flowing to provide aid to those in the Lower 48, who are turning to Alaska, waiting and wanting Alaska to help," Palin said after the Legislature's support.

The license does not guarantee construction, but it means TransCanada must move forward on costly federal permitting applications for the 1,700-mile pipeline. The project is estimated to cost $26 billion to $30 billion.

The license comes with up to $500 million in state seed money. It also sets up a race with a competing pipeline venture established by oil giants BP PLC and ConocoPhillips.

The two companies did not submit a proposal under the state's Alaska Gasline Inducement Act — or AGIA — because they found the bid requirements too restrictive.

AGIA was passed in May 2007, and it called for bidders to guarantee progress toward construction of a pipeline and submit an application deemed friendly toward new energy exploration.


Attached link: http://www.time.com/time/business/artic ... 45,00.html


Alaska OKs New Gas Pipeline

pokerkid
Site Admin
Posts: 7781

TransCanada natural gas pipeline given green light

Post#2 » Mon Aug 04, 2008 12:43 am

TransCanada natural gas pipeline given green light
2nd August, 2008
TransCanada Corp has been given permission to pursue construction of a natural gas pipeline.

Alaska lawmakers have approved a state license to open up 4.5 billion cubic feet of North Slope natural gas.

The gas will be used for domestic use in the US market.

With the granting of the license, TransCanada will need to move forward on costly federal permitting applications for the 1,700-mile pipeline.

The project is estimated to cost $26 billion to $30 billion.


Attached link: http://feeds.bignewsnetwork.com/index.php?sid=389599

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