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.
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- Andy Larson, 79, and Matthew Hanes, 32, hoisted from S/V Rafiki about 170 miles south of Sand Point early Wednesday.
- The company that sent the first big luxury cruise ship through U.S. and Canadian Arctic waters is preparing the Crystal Serenity for a repeat performance in 2017. But one expert believes this year’s historic transit doesn’t mean the Arctic is likely to become a hotspot for global shipping anytime soon.
- Federal fisheries oversight required in some busy Alaska salmon fisheries