Alaska unveils new way forward on gas line

Jan 10, 2014 3:42 PM

JUNEAU, Alaska (AP) - Alaska is dropping its years-old agreement with Canadian pipeline building TransCanada Corp. in a bid to pave a new way forward for its long-hoped for natural gas pipeline.

Gov. Sean Parnell said Friday the split was amicable. The Republican governor said when a 2007 law was drawn up aimed at advancing a project, it was designed for only one project developer. But, the liquefied natural gas project now being pursued involves multiple interests.

He said TransCanada will continue playing a role, just under a different commercial agreement that would also include Exxon Mobil Corp., BP, ConocoPhillips and state interests. The administration also plans to seek legislative approval for state participation.

Copyright 2014 The Associated Press. All rights reserved.


Most Popular