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Denali Begins U.S. and Canadian Open Seasons

Denali - The Alaska Gas Pipeline started its open seasons today for the U.S. and Canadian portions of the Denali Project. Both open seasons will last 90 days, ending on October 4th, 2010.

"The start of these open seasons marks the culmination of a tremendous work effort" said Bud Fackrell, Denali President. "We are pleased to have reached this important milestone and look forward to productive discussions with our potential customers for the U.S. and Canadian portions of the Project. The quality of our technical and commercial work will provide our potential customers with the information they need to consider in making the multiyear, multibillion dollar commitments necessary to move this project forward."

The Denali Project consists of a gas treatment plant (GTP) on the Alaska North Slope, transmission lines from the Prudhoe Bay and Point Thomson fields to the GTP, an Alaska Mainline that will run from the North Slope of Alaska to the Alaska-Yukon border, and a Canada Mainline that will transport gas from the Alaska-Yukon border to Blueberry Hill, Alberta. Also included will be delivery points along the route to help meet local natural gas demand in Alaska and Canada. Denali's cost estimate for the GTP and the mainlines is approximately $35 billion dollars (U.S.). Denali has invested over 670,000 man-hours and over $140 million dollars to prepare for the U.S. and Canadian open seasons.

Denali - The Alaska Gas Pipeline LLC is owned by subsidiaries of BP and ConocoPhillips.

For additional information, contact Dave MacDowell, Director Media and Communications, Denali - The Alaska Gas Pipeline LLC, at 907-865-4735 or visit Denali's website at www.denalipipeline.com. Denali's open season plan can also be found on the FERC website, Docket PF08-26-000.

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