Denali Open Season Announcement WelcomedWASHINGTON, D.C. -- U.S. Sen. Lisa Murkowski, R-Alaska, today welcomed news that the BP-ConocoPhillips joint natural gas pipeline project, Denali, has received significant commercial interest from North Slope producers.
"Denali's announcement represents a positive step forward in finally getting a pipeline project underway," Murkowski said. "We have two major projects vying to deliver Alaska's gas to market. The market will eventually determine which one will be built, but the competition will certainly improve Alaska's odds of success."
BP and ConocoPhillips are competing with TransCanada and Exxon Mobil to build a pipeline capable of carrying some 4.5 billion cubic feet of natural gas a day. TransCanada and Exxon Mobil completed the open season process earlier this summer with similar results.
"While financial negotiations continue between the companies that hold rights to the gas and those who would build the pipeline, I will continue to work at the federal level to make sure all available assistance is given to make this project a success," Murkowski said. "Access to Alaska's North Slope gas reserves is important not only to the economy of the state, but to the energy security of the nation as a whole."
Murkowski, the top Republican on the Senate Energy and Natural Resources Committee, was responsible for passing legislation granting loan guarantees and other federal aid to any company that builds a pipeline connecting the North Slope to Outside markets. She has authored new legislation that is pending passage in the Senate that would increase those loan guarantees to more than $30 billion.
Posted: October 6, 2010
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