Senate Approves Gas Pipeline License
Jamey Kirk
Story Created:
Aug 1, 2008 at 2:08 PM AKDT
Story Updated:
Aug 1, 2008 at 2:08 PM AKDT
It took lawmakers only four hours to issue the vote on the state license for TransCanada Corp. The vote passed the energy commission late Thursday night, and on Friday around 1:45 p.m. the Senate voted to approve the measure.
This brings to end a decade-long battle to open up North Slope natural gas for use on the North American market.
Following the Senate's approval on Friday and the House's approval a week earlier, the bill will need the final backing of the governor before it can be ratified. Though this should be only a matter of ceremony at this point, as the bill has been backed and supported by the administration since its inception this spring.
Granting the license does not guarantee construction of the pipeline, it only allows TransCanada to move forward with the federal application process.
Now the race between the $500-million state seeded venture and the BP PLC and Conoco Phillips competing project should begin to really heat up.
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