NEWS BULLETIN

July 31, 2012 --- Vol. 18, No. 53July 2012

Alaska Pipeline Project again seeking interest in gasline

The Alaska Pipeline Project is throwing its line into the water again.

The joint venture between TransCanada Corp. and Exxon Mobil Corp. plans to conduct a solicitation of interest to find parties that might be willing to make future capacity commitments on a North Slope natural gas pipeline, the groups announced Monday.

The non-binding solicitation will run from Aug. 31 to Sept. 14.

The solicitation will gauge industry interest in a pipeline system from the Alaska North Slope “to a gas liquefaction terminal at a tidewater location in south-central Alaska or to an interconnection point near the border of British Columbia and Alberta in Canada.”

The Alaska Pipeline Project ran its first binding open season for the project from April 30, 2010 to July 30, 2010, but terminated the effort in May 2012.

Although producers reportedly made conditional bids for capacity on a pipeline from the North Slope to Alberta, TransCanada ultimately determined “producers are not prepared to make commercial commitments to the Alberta Project at this time.”

Under its Alaska Gasline Inducement Act license, TransCanada must assess market interest in a North Slope gas pipeline every two years following its first open season.

– Eric Lidji

Endeavour jack-up rig bound for Alaska

Another jack-up rig is headed for Cook Inlet.

The Endeavour — Spirit of Independence left Singapore today on the Kang Sheng Kou heavy lift vessel, according to Kenai Offshore Ventures LLC, a joint venture between Australian independent Buccaneer Energy Ltd. and the Singapore-based marine company Ezion Holdings Ltd.

Kenai Offshore Ventures purchased, modified and mobilized the rig through a public-private partnership with the Alaska Industrial Development and Export Authority.

Buccaneer plans to use the rig for as many as three offshore wells this year, and Kenai Offshore Ventures plans to also make the rig available to third parties in the region.

Buccaneer expects the journey to take between 21 and 28 days. Upon arriving in Cook Inlet, the rig will be towed to the first location in Buccaneer’s offshore drilling program.

– Eric Lidji

See full story in August 5 issue, available online at 11 a.m. Friday, August 3, at www.PetroleumNews.com


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