Exxon Mobil enters talks to help build Alaska gas pipeline [giant boost for Palin's pipeline]

Houston Chronicle ^ | June 10, 2009 | Tom Fowler and Kristen Hays

[Al B.]

Exxon Mobil is in discussions with TransCanada to help it build a massive pipeline to move natural gas from the North Slope of Alaska to U.S. markets, according to a source familiar with the deal. The move could undermine a competing effort by ConocoPhillips and BP.

Irving-based Exxon would not be just a passive customer of the pipeline, which could cost as much as $30 billion and run 1,700 miles, but would likely be involved in the design and construction, according to the source. Exxon has deep expertise with large construction projects, including in harsh climates like Alaska.

"As a matter of practice ExxonMobil does not comment on market rumors or news stories," the company said in a statement.

TransCanada did not respond to multiple requests for comment.

Scott Jepsen, spokesman for Denali, the joint venture of Houston-based ConocoPhillips and London-based BP, said Denali officials had no comment because they hadn’t seen an announcement about an alliance between Exxon and TransCanada and couldn’t speculate on what it might be.

[Al B.]

If true, this will be a huge win for the Governor and a giant boost for AGIA over the competing Denali project from BP/Conoco. Exxon Mobil has 1/3 of the gas leases on the North Slope.

May explain where Palin is today.

[vpintheak]

Sweet!

[SolidWood]

There was an interesting comment at C4P about MSNBC being in the tank for General Electrics which is big into “alternative green energies” like wind, and thus have an dire interest in seeing Palin being stopped because of her advocacy for energy independece via domestic fossile energy.

[4Speed]

A NO COST JOB STIMULUS .....Gee why didn’t Obama think of that ?

[Al B.]

Makes complete sense. Lots of folks lined up against that lady. Nothing she hasn’t seen before. These personal attacks against her family from the deranged left would wear on anyone, however.

[3niner]

This is a win, win, win, win, for the energy companies, Alaska, Canada, and the lower 48.

I understand that Russia wants to build a gas pipline under the Bering Strait. I think they're at least 15 years away from completing that, but it would be nice if it could connect to an existing pipeline, for an even greater supply of natural gas to the US.

[Al B.]

Members of the U.S. Congress may be briefed on an Exxon-TransCanada agreement as early as next week, with a formal announcement expected soon after, the source said.

Palin's dream for Alaska is coming true. They're gonna present this to the feds next week as a done deal. No more carping and late-inning interference from the gov't. I love how this looks like it's going down.

Would not be a bit surprised to see Palin back in DC next week with folks from Exxon, Trans Canada and her Alaska team.

[Al B.]

Ping

[Ben Ficklin]

"A NO COST STIMULUS"

What about the $500 million Palin gave TransCan? And now that Exxon is a partner, that is their's as well.

[Virginia Ridgerunner]

Another BIG feather to go into her 2012 war bonnet!

[redk]

Oh wow I almost forgot this must be a horrible turn of events for you.

[4Speed]

Palin gave 500 mill to TransCan...

Obama wants us Reaching out to other countries......Palin is doing her part. Canada is #2 in the World in Oil Reserves, and Reserves cannot be “counted” until you are extracting Oil from the “reserve”.
EPA and Gov. won’t use Canada Oil sands oil....Because......They use Heat (CO2) to refine it....We would rather import from Saudi’s than use our Neighbors heat treated Oil.

[Cletus.D.Yokel]

To all my ex-coworkers in TransCan...

Woo, hoo! Go TC and XOM!

[Al B.]

She made all the key moves to get this going -- AGIA passed by 59-1, kicking the energy companies in the butt to get moving by starting to pull leases, watching Exxon respond by starting to drill at Pt. Thomson, working with the congressional delegation to secure low-interest construction loans from the gov't, taking heat from the carpers for providing $500 million seed money for engineering work to Trans Canada, all while working quietly with Exxon behind the scenes to join her project which goes a long way to guaranteeing the pipeline will be filled.

Not bad for an airhead. /s

[Ben Ficklin]

"horrible turn of events"

As you probably don't know, legislation was introduced into the US Congress 2 days ago to raise the loan guarantees on the pipeline that were provided in the Alaska Natural Gasline Act of 2004.

And just yesterday, the Senate Energy Committee approve drilling the Destin Dome in the eastern gulf. This is a big natural gas deposit.

[MSF BU]

The next question is how much shale/gas reserves can be developed there. The technology is revolutionizing the industry.

[Al B.]

I think they knew the window was closing for Alaska and this project because of these new technologies. That’s why they’ve been pushing so hard. I’m glad this looks like it’s coming to pass. It’s good for everybody but especially for Alaska.

[DarkDiscovery]

I feel sorry for the haters.

[redk]

That’s very nice but it doesn’t change the fact that you have PDS and you seem willing to root against Palin at the expense of the country if need be.

[Ben Ficklin]

Correct.

Palin is an ignorant populist masquerading as a conservative.