Bill set state participation at about 25 per cent in project also being pursued TransCanada Corp.
JUNEAU, Alaska—The Alaska Legislature has passed a bill setting the state’s participation in a major liquefied natural gas (LNG) project.
The House voted 36-4 on the measure April 20.
The Senate later voted 16-4 to agree to the House changes.
SB138, from Gov. Sean Parnell, would set state participation at about 25 per cent in a project also being pursued TransCanada Corp., the Alaska Gasline Development Corp., and the North Slope’s major players.
It would allow the project to move to a stage of preliminary engineering and design and cost refinement.
It also would allow the state to negotiate project-enabling contracts that would be brought back to lawmakers for consideration.
Some supporters expressed cautious optimism that this would lead to a long hoped-for project.
Critics questioned if this was the best deal for the state.