Mitsubishi Offers Gas Pipeline Proposal

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Mitsubishi's proposal is the third natural gas pipeline plan that lawmakers will have to consider. Photo courtesy the AP.

Jamey Kirk

Story Created: Jun 20, 2008 at 1:40 PM AKDT

Story Updated: Jun 20, 2008 at 1:40 PM AKDT

A partnership between the Alaska Gasline Port Authority and Japanese company Mitsubishi Corp. has been announce by the two companies. Both companies will propose a joint venture to construct an "all-Alaska" natural gas pipeline.

According to reports by the Fairbanks Daily News-Miner, the port authority has signed a memorandum of agreement with Mitsubishi. Port authority project manager Bill Walker said he feels confident in Mitsubishi's abilities to make the plan a reality.

For the last 40 years Mitsubishi has participated in the Kenai liquefied natural gas (LNG) export project, and currently handles half of all Japanese LNG imports.

Walker will discuss the partnership with lawmakers on Friday in Anchorage.

Lawmakers are currently in the city to discuss authorizing a license for the TransCanada proposed natural gas pipeline plan.