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JUNEAU, Alaska (AP) -- The Alaska Legislature was convening Saturday for a special session focused on whether the state should buyout one of its partners in a proposed liquefied natural gas project, TransCanada Corp.
The narrowed focused came after Gov. Bill Walker announced Friday that he was pulling the other agenda item — a gas reserves tax — after receiving written assurances from two of the state's producer-partners, BP and ConocoPhillips, that they would be willing to make gas available to a gas project if they are not participating. Terms still must be finalized. Walker said he hoped the remaining producer partner, Exxon Mobil Corp., would make a similar commitment.
Saturday began with an overview briefing on gas project-related issues put on by Walker's administration for legislators and others at Centennial Hall. The House and Senate were scheduled to convene the special session at the Capitol later Saturday morning.
As a candidate last year, Walker was critical of the process under which the state was pursuing a liquefied natural gas mega-project with BP, Exxon Mobil, ConocoPhillips, TransCanada and the Alaska Gasline Development Corp.
Under the arrangement, TransCanada would hold the state's interest in the pipeline and gas treatment plant. The state can exercise an option by year's end to buy a portion of that interest, but Walker said he's interested in a full buyout, in which case the state would reimburse the company for its development costs, plus 7.1 percent interest. Walker has said this would give the state a greater say in the project. It also would mean higher investment costs for the state.
The House Finance Committee planned to hold a hearing Saturday afternoon to begin delving into the issue.
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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$ 42.6 billions as of today (US$ 31.1 billions, € 29.1 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. |