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NEWS BULLETIN

February 27, 2004 --- Vol. 10, No. 19February 2004

Port authority files application under Stranded Gas Development Act

The state of Alaska now has three applications under the Alaska Stranded Gas Development Act.

Dave Dengel, executive director of the Alaska Gasline Port Authority, told Commonwealth North in Anchorage today that the authority has submitted an application under the act. MidAmerican, a pipeline company, and the North Slope producers submitted applications in January, and are in negotiations with the state over fiscal terms.

“Unlike the application submitted by the producers, our application does not seek special tax breaks from the state or municipalities,” Dengel said in a statement. “What our application does, is show that the Port Authority structured project is the most beneficial in terms of well-head value, provides maximum market exposure for the state’s gas resources and guarantees gas for Alaskans,” Dengel said.

The Port Authority said its application is for a project that would be “essentially a three-pipeline project,” from the North Slope to Valdez with lines from Delta to the Canada border and from Glennallen to connect with the Southcentral gas grid.

The producers’ application is for a line to Canadian infrastructure in Alberta; the MidAmerican application is for a line to the Canada border.

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