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Alaska issues gas pipeline draft



By Upstream staff 

ConocoPhillips said today the state of Alaska has released the draft agreement on the Alaska Gas Pipeline fiscal contract between the state and the North Slope producers.

ConocoPhillips said it supported starting the public review process, and looked forward to providing input to the Alaska State Legislature regarding the need for a fiscal contract supportive of project development and a tax system that balances the needs of the state while encouraging investment.

"This is an important step toward increased energy security for America. ConocoPhillips, the other project sponsors and the state of Alaska are working as partners on the largest pipeline project in North America," said Jim Mulva, ConocoPhillips chairman and chief executive.

"The pipeline will provide a long-term source of clean, secure energy to American consumers. We look forward to working with all Alaskans to further develop Alaska's substantial gas resources," he added.

Upon completion, it is anticipated that this project will produce approximately four billion cubic feet of gas per day from Prudhoe Bay, Point Thomson and other western North Slope fields.


Thursday, 11 May, 2006, 01:28 GMT  | last updated: Thursday, 11 May, 2006, 01:28 GMT

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