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JUNEAU, Alaska (AP) -- The Alaska Legislature is set to convene for its third special session this year, this time to consider a buyout of one of the state's partners on a proposed multibillion-dollar liquefied natural gas project. Legislators had been expecting a fall special session to deal with gas-line issues, but they will not be presented with contracts as once hoped, since key agreements have yet to be reached between the state and its partners. The special session agenda set by Gov. Bill Walker has the proposed buyout of TransCanada Corp.'s interest in the project as well as a gas reserves tax, which the governor has characterized as a way to make sure the project can't be stalled if a company doesn't allow for gas it controls to be commercialized. Legislators said they'd hoped to get details on Walker's proposals well in advance to begin delving in. The special session is scheduled to begin Saturday in Juneau. Walker spokeswoman Katie Marquette said bills will be released before the start of the session. The project being pursued by the state, BP, ConocoPhillips, Exxon Mobil Corp., the Alaska Gasline Development Corp., and TransCanada is the latest iteration of a gas line that's been seen as a way to shore up revenues in a state heavily reliant on oil. A prior effort, for which TransCanada had an exclusive license with Alaska, fizzled out amid concerns with the North America gas market. The current project would aim to serve overseas markets. Under an agreement predating Walker's administration, TransCanada would hold Alaska's interest in the pipeline and gas treatment plant, with the state having an option to buy back part of that interest. The agreement also contains language allowing the state to terminate the arrangement, though it would have to reimburse TransCanada for development costs, plus 7.1 percent. Walker, who has been vocal in wanting Alaska to have a greater say in the project, has estimated buy-out related costs in the $100-million range. |
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Transcanada Pipelines Ltd.
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CODE : TRP.TO |
ISIN : CA89353D1078 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Transcanada Pipelines is a producing company based in Canada. Transcanada Pipelines is listed in Canada. Its market capitalisation is CA$ 42.7 billions as of today (US$ 31.1 billions, € 29.2 billions). Its stock quote reached its lowest recent point on February 18, 2000 at CA$ 10.00, and its highest recent level on February 21, 2020 at CA$ 76.58. Transcanada Pipelines has 867 229 952 shares outstanding. |