Alaska governor says design work to start on new LNG project

|By:, SA News Editor

The state of Alaska and four energy firms sign a joint venture agreement to begin preliminary work on an 800-mile natural gas pipeline from the North Slope to a liquefied natural gas export plant.

The agreement calls for partners to invest millions in front-end engineering and design work over the next 18 months for the project, which ultimately could cost $45B-$65B.

The deal comes two months after Alaska's legislature backed Gov. Parnell's plan to work with Exxon Mobil (XOM), ConocoPhillips (COP) and BP plus pipeline company TransCanada (TRP) on a project development contract.