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Governor Parnell Lauds Pipeline Progress

January 29, 2010, Anchorage, Alaska - Governor Sean Parnell welcomed the news that the Alaska Pipeline Project filed its plan with the Federal Energy Regulatory Commission (FERC) to gain approval to conduct an open season to develop Alaska's natural gas resources.

"Bringing Alaska's gas to market presents a tremendous economic opportunity for the state," Governor Parnell said. "Alaskans have waited 30 years to advance this project, and today's news marks a significant milestone in achieving this opportunity. Through the hard work and diligence of individuals working on the Alaska Pipeline Project, we are obtaining the critical technical, commercial, and environmental data that is necessary for a project of this magnitude to succeed."

The open season plan provides detailed information about the proposed project, including estimated project costs, engineering design, tariffs and timelines. This information will be available for the public to review on the Alaska Pipeline Project website, http://www.thealaskapipelineproject.com, and at the FERC website, http://www.ferc.gov/. Members of the public can submit comments regarding this proposed plan through March 1, 2010, with FERC.

The Alaska Pipeline Project is a joint effort between TransCanada Corporation and ExxonMobil in developing the Alaska North Slope's estimated 36 trillion cubic feet (Tcf) of known gas reserves. In 2007, the Alaska Legislature passed the Alaska Gasline Inducement Act (AGIA). This legislation was created to provide a commercial framework to move an Alaska natural gas pipeline project through milestones, such as this filing, forward to the point of project sanction. In August 2008, the Alaska Legislature approved TransCanada Alaska as the AGIA licensee. Ten months later, on June 11, 2009, TransCanada and ExxonMobil announced their agreement to work together on an Alaska gas pipeline.

The formal open season for the Alaska Pipeline Project will take place from April 30 through July 31, 2010.

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