Yes, that is the pipeline that Conoco agreed to, not the one that BP and Exxon are still pushing for. After the state and Conoco agreed to the terms, BP and Exxon tried to change everything. That is what they are being criticized for.
And it is NOT the Valdez route. The first line of the article I linked you to reads:
ANCHORAGE, Alaska (AP) - The state has agreed to base fiscal terms of a contract with one of the three oil companies involved in months-long negotiations to build a multibillion dollar, 2,100-mile natural gas pipeline from the North Slope, into Canada and connecting with markets in the Midwest.