Governor Sean Parnell announced Friday the state is taking a new approach to a large-scale natural gas line in Alaska.
“We have agreed to amicably terminate our involvement with TransCanada under AGIA, but sign up with TransCanada in a more traditional arrangement along with the producers and AGDC [Alaska Gasline Development Corporation],” he said at a presentation before the Alaska Support Industry Alliance in Anchorage.
Parnell did not release the terms of the agreement, but did announce “TransCanada agreed to a debt-equity structure that guarantees Alaska’s interests are protected.”
Parnell explained the Alaska Gasline Inducement Act, which was negotiated under Governor Sarah Palin in 2007, was designed with the idea of one developer moving natural gas. Now the project is more complicated and involves gas treatment and liquification.
The new agreement with TransCanada, Exxon, BP, and ConocoPhillips, which Parnell said will be signed very soon, gives the state ownership. “Ownership ensures we either pay ourselves for project services or at the very least understand, negotiate, and ensure the lowest possible costs.”
Parnell said the state would also receive a share of the profits over the entirety of the project.
- While much of the recent focus has been on the opioid crisis, a report found that alcohol use causes more economic damage.
- Eight Arctic nations, six circumpolar indigenous groups, and over 30 representatives from other countries and organizations participate in the intergovernmental forum.
- A tsunami warning drill takes place once a year, and one village in Southeast has not forgotten the importance of being ready when disaster strikes.
- Nome turns into a bit of a carnival when the Iditarod winner mushes into town. For nearly a week, racers continue arriving before the banquet that officially concludes each year’s Iditarod.