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NEWS BULLETIN

May 02, 2012 --- Vol. 18, No. 33May 2012

AGIA focus shifts to LNG

The State of Alaska is shifting focus under the Alaska Gasline Inducement Act from work on a line to Lower 48 markets to work on a large-diameter line from the North Slope to tidewater for in-state use, liquefaction and export.

In a release this afternoon the Alaska Gas Pipeline Project Office said Natural Resources Commissioner Dan Sullivan and Revenue Commissioner Bryan Butcher have approved a project plan amendment for TransCanada Alaska under AGIA, allowing TransCanada to shift its focus to LNG.

Because of the transition to an LNG project, the date for filing of a certificate for an application for an Alberta line with the Federal Energy Regulatory Commission has been moved two years — from October 2012 to October 2014.

TransCanada, ExxonMobil, ConocoPhillips and BP said March 30 that they would work together on commercializing North Slope natural gas and would focus on large-scale liquefied natural gas exports from Southcentral Alaska under an AGIA framework.

The project plan amendment, approved today, calls for TransCanada Alaska to complete initial work on an LNG project by September and conduct a comprehensive market solicitation by year’s end.

TransCanada will provide an updated project plan amendment early next year, reflecting details of the LNG project and its associated timeline. That amendment will also need commissioner approval.

The Alaska Gas Pipeline Project Office said that approximately half of the work done by TransCanada so far on the Alberta option is applicable to the LNG line.

—Kristen Nelson

See story in May 6 issue, available online at 11 a.m., Friday, May 4 at www.PetroleumNews.com

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