TransCanada to concentrate on all-Alaska LNG pipeline

CALGARY, Alberta Fri Mar 30, 2012 5:15pm EDT

CALGARY, Alberta (Reuters) - TransCanada Corp (TRP.TO) said on Friday it will concentrate its planning efforts for an Alaska natural gas pipeline on a $26 billion route that would take the fuel to an Alaska liquefied natural gas facility, leaving a more expensive route to Alberta as only an alternative option for the project.

Tony Palmer, TransCanada's vice-president of Alaska development, said in an interview that an all-Alaska route had become the preferred focus for the project following an agreement between producers on the state's North Slope and Alaska government.

Exxon Mobil Corp (XOM.N), BP Plc (BP.L) and ConocoPhillips (COP.N) agreed to move forward on finding ways to commercialize their vast natural-gas reserves on the North Slope after Exxon Mobil resolved a dispute with the state government over the Point Thomson field.

(Reporting by Scott Haggett; Editing by Peter Galloway)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.