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House Majority E-News for Jan 24, 2011 ANS Crude: $111.30 ANS production: 617,291 bbl Henry Hub: $2.63

Speaker Continues In-State Gasline Development Push

(Juneau) - House Speaker Mike Chenault, R-Nikiski, today presented
comprehensive legislation advancing the Alaska Gasline Development
Corp's (AGDC) development of an instate gas pipeline project.

The package combines several existing bills with recommendations by
AGDC and additional tools to bring Alaskans closer to a natural gas
pipeline project, ensuring the state's energy security and providing a
catalyst for future economic growth.

"While the optimal project for Alaskans would be a large diameter
export pipeline, I am unwilling to wait indefinitely for the various
stakeholders to align," Speaker Chenault said. "This legislation
allows AGDC to keep developing key assets and meeting critical
milestones that will be invaluable whether we ultimately build an
instate line or partner in a large export project. Alaskans need
reliable, reasonable energy now, but we also need the long-term
economic benefits that commercialization of our North Slope and Cook
Inlet resources will bring."

Rep. Mike Hawker, R-Anchorage, has worked with Speaker Chenault
crafting the omnibus legislation. "We are closer than ever to seeing a
project underway that will bring affordable Alaskan gas to Alaska's
communities," Hawker said. "As we announced last fall, this
legislation is an important part of our efforts to empower AGDC to get
a project started and to be prepared to work with the major gas
producers on an in-state line exporting LNG."

The full text of this release, media, and background can be found
below:

http://www.housemajority.org/item.php?id=item20120124-321