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Governor Parnell Releases Statement on Closure of Open Season

July 30, 2010, Anchorage, Alaska - Governor Sean Parnell issued the following statement today on the close of the first open season for a natural gas pipeline to deliver Alaska's North Slope natural gas to market.

"There are many milestones to mark the progress of this project, and today's is a major one. The market has determined Alaska natural gas is worth pursuing. We have many more milestones to go, and plenty of commercial and regulatory hurdles to clear, but it is a positive sign that major players have placed bids for significant volumes of capacity on a pipeline to market.

"The open season has proven successful at attracting bids. Now comes the work of converting those bids into agreements. That work will require negotiations among the parties. As those negotiations take place, the interests of Alaskans will be protected by the terms of our license with TC Alaska. Through the state's commitment of up to $500 million in reimbursed project costs, we have secured low tariffs, in-state delivery of gas, Alaska hire and a commitment to continue moving forward beyond the initial open season.

"Meanwhile, we have not put all of our eggs in one basket. The Alaska Gasline Development Corporation will continue its work to prepare a project package for the bullet line. Letters of interest from buyers and sellers of gas and from pipeline construction companies will be solicited, as a financing plan is assembled during the next year."

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