NEWS BULLETIN

January 30, 2008 --- Vol. 14, No. 10January 2008

State turns down AGPA appeal; will look at LNG option

The State of Alaska has rejected an appeal by the Alaska Gasline Port Authority to reconsider the authority’s application under the Alaska Gasline Inducement Act, but Commissioner of Revenue Pat Galvin and Commissioner of Natural Resources Tom Irwin said today the gas line team will evaluate a liquefied natural gas application.

This evaluation was apparently requested by Backbone II.

In a letter today to former Gov. Walter Hickel and David Gottstein, co-chairman of Backbone II, Gov. Sarah Palin said: “I agree with you that Alaskans deserve, and my administration has an obligation to provide, a full valuation of both an overland route and a route to tidewater and liquefied natural gas.”

The governor said her “administration is committed to undertake a detailed evaluation of likely LNG project designs before determining whether a pipeline that goes through Canada will sufficiently maximize the benefits to the people of Alaska and merits issuance of a license.”

Note: See complete story in Feb. 3 issue of Petroleum News, available online Feb. 1.


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