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NEWS BULLETIN

August 29, 2008 --- Vol. 14, No. 87August 2008

FERC’s 6th Alaska gas pipeline report positive

In FERC’s sixth semiannual report to Congress on progress on an Alaska pipeline.html'>gas pipeline, issued today, Federal Energy Regulatory Commission Chairman Joseph Kelliher called progress “substantial” but said the agency was concerned about the challenge of reviewing multiple applications.

The commission noted the formation by BP and ConocoPhillips of the Denali pipeline project; the announcement by Alaska Gov. Sarah Palin that TransCanada Alaska would be the preferred applicant for a license under the Alaska Gasline Inducement Act — and the approval of that license by the Alaska Legislature; and the addition of new partners by the Alaska Gasline Port Authority and the State of Alaska’s announcement that it would assist the port authority with developing its LNG project.

“We have seen substantial progress on development of the Alaska pipeline over the past six months, more progress than in any other reporting period,” Kelliher said in a statement issued with the report. “The competition for the project is a positive indication of serious interest by major industry players. This should all be resolved, ultimately, in the energy and financial marketplaces, and FERC stands ready to act once that takes place.”

FERC is concerned about handling multiple applications for a certificate for an Alaska gas pipeline project. Kelliher said reviewing multiple projects “would greatly challenge the Commission staff, the other agencies on the federal interagency team, and state agencies. Clearly, everyone must work together with the shared goal of getting a project built.”

See full story in Sept. 7 issue of Petroleum News, available online to subscribers at noon, Sept. 5, at www.PetroleumNews.com

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