Posted on 01/18/2011 9:48:32 AM PST by thackney
Christmas came and went, and then the new year, and Alaska is still waiting for its present from TransCanada -- signed agreements with gas shippers that would show its North Slope pipeline project is moving forward.
"We did set out a target, and sometimes you achieve it and sometimes it takes you a little bit longer," said Tony Palmer, TransCanada Corp.'s vice president of Alaska development. "This is a very large and complex project."
Palmer's company, with partner Exxon Mobil, has a state license and state subsidies to build the multibillion-dollar line as the Alaska Pipeline Project.
He had expressed optimism last year that between Christmas and New Year's he would be able to report that willing shippers had signed transportation agreements to move their gas through the pipeline. The completion of such deals, called precedent agreements, are critical milestones that must be reached for the project to have any hope of succeeding.
"It certainly comes as no surprise to me that we have heard nothing," said Rep. Mike Hawker, R-Anchorage, one of the Legislature's leading skeptics of the law that granted TransCanada its state license. "Our concerns are being validated."
(Excerpt) Read more at adn.com ...
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