Begich Reacts to Denali Withdrawal of Pipeline Project
U.S. Sen. Mark Begich today released the following statement after Denali - The Alaska Gas Pipeline Project announced it is stopping work on plans to build an Alaska natural gas pipeline:
"Like many Alaskans, I am disappointed to hear today's news that the Denali project is no longer pursuing the gas line. We've always known a gas line can only succeed if there is a market for the gas, and prices are low while supplies are plentiful in the lower 48 markets right now.
"But this is also about planning for the long-term and the growing U.S. demand for gas, especially from utilities, could make the Alaska pipeline economically possible down the road.
"There's no doubt Alaska needs a gas line for 2020 and beyond to attract the investment dollars that will be necessary to produce more oil. I hope the State and the producers can all work together to move an Alaska gas line forward in the future. I stand ready with the rest of the Alaska Congressional Delegation to move increased loan guarantees forward to help secure a pipeline project."