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Alaska State Senate passes bill advancing Alaska LNG project

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LNG Industry,

The Alaska State Senate has advanced the Alaska LNG project by passing SB 3001, which requests an appropriation to the project fund in the amount of approximately US$68 455 000 to acquire TransCanada’s interests. In addition to this, the bill requests appropriations with a total of US$75 600 000 related to continued participation by the state in the project. This will fund the state’s share of preliminary FEED work.

The Alaskan Governor, Bill Walker, said: “I thank Senator MacKinnon and Senator Kelly for their leadership in moving this legislation forward.

“I am hopeful the House will similarly understand the importance of this legislation, which will allow us to move forward in a project that best serves Alaska.

“As we grapple with a US$3.5 billion deficit and declining oil prices and production, it is essential that we advance a gas line project that is projected to bring in billions of dollars in annual revenue.

“We know the markets need the LNG, and it’s critical that we act expeditiously to advance this project. I am pleased with the assurances I have received from our project partners, and I will remain focused on making sure Alaska gas is available in order to further the success of the Alaska LNG project.”

Edited from press release by David Rowlands

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