Alaska Natural Gas Pipeline Message Board

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Gold/Mining/Energy : Alaska Natural Gas Pipeline

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From: Dennis Roth	3/1/2007 4:56:09 AM
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Alaska governor promotes gas pipeline plan in Washington meetings platts.com Washington (Platts)--28Feb2007 Alaska Governor Sarah Palin on Wednesday closed out nearly a week of talks in Washington with members of Congress, regulators and energy companies to drum up support for a plan offering big upfront incentives to spur the development of a natural gas pipeline from North Slope fields to the lower-48 states. Palin Friday plans to roll out to the Alaska Legislature a detailed plan to offer $500 million in an upfront state contribution toward the estimated $1 billion cost of getting regulatory clearance to build the pipeline. The $20-25 billion project would tap into an estimated 35 Tcf basin of stranded North Slope gas. The proposed Alaska Gasline Inducement Act, designed to get gas producers, potential pipeline developers and Alaska citizens on board for the project, would require a developer to agree to "benchmarks" that ensure steady progress toward completing the project in 10 years. The plan would require the developer to hold an open season for firm transportation services within three years of winning a state contract to build the pipeline. At a morning briefing before meeting with Energy Secretary Samuel Bodman Wednesday, Palin said it was critical that any state contract require developers to "put their money where their mouth is" and follow through on a stated intent to finance the pipeline. Palin laid out for US lawmakers and regulators, including during a meeting with Federal Energy Regulatory Commission Chairman Joseph Kelliher, a proposal that is in stark contrast to an agreement negotiated last year by former Governor Frank Murkowski and the three major North Slope producers, BP, ExxonMobil and ConocoPhillips. The Legislature refused to sign off on the Murkowski contract amid concerns that the closed-door negotiations resulted in a contract that included no guarantees the project would be built and that shortchanged the state. --Joel Kirkland, joel_kirkland@platts.com

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