Posted on 10/24/2005 5:43:36 PM PDT by Flavius
ANCHORAGE, Alaska: Alaskan officials agreed to key terms of a contract with one of three oil companies negotiating to build a 2,100-mile (3370-kilometer) natural gas pipeline from Alaska through Canada and into the Midwest U.S.
ConocoPhillips agreed to provide Alaska with a fair share of the revenues, access to the gas and job preferences for Alaskans on the pipeline, among other demands, said Gov. Frank Murkowski.
"We're now one step closer to making an Alaska natural gas pipeline a reality,'' said Jim Bowles, president of ConocoPhillips Alaska Inc.
"The journey has just started.''
Terms of the agreement with ConocoPhillips won't be released because negotiations are continuing with BP and Exxon Mobil, Murkowski said.
The pipeline would be the largest construction project ever undertaken in North America, Murkowski said.
ConocoPhillips, Exxon Mobil and BP applied as a group early last year to negotiate fiscal arrangements to build the $24 billion (euro19.98 billion) pipeline.
Alaska would contribute $4 billion (euro3.33 billion) and the Legislature would have final say on the contract.
After a contract is secured with the state, a regulatory process in Canada still must be defined and technology to reduce capital costs must be identified, the producers say.
The pipeline envisioned by producers would take a decade to build.
The line would initially ship 4.5 billion cubic feet of gas per day. - AP
Latest from AP-Wire
but need that pipe line...
I worked for many, many years for one of the legacy companies making up ConocoPhillips. Been retired for a bunch of years.
And I say to them, "Go guys, go. Get that pipeline underway!"
Got to Valdez in 1970, just in time for the construction of the Trans Alaska pipeline. Now, my son has gone to work at Prudhoe Bay, and we are living in Wasilla. There is a lot more oil up there than people think, and UNTHINKABLE amounts of natural gas. This should be interesting...
wheww!
While in the long term, this is likely very good news for literally millions of Americans, it's not the greatest news for my family, as this probably means that the "lease for exploratory drilling" won't be renewed.
All said and done it's not a big deal (a few thousand dollars/year, and no rig has been perched on the soil yet), but all that gas (there is a NG pipeline already ON the land) is just sitting there.....
Ah well, perhaps my cousin's grandkids might get something out of it.
there is also a bill going through congress to rip alaska apart looking for oil... anwar and such...
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