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Producers continue attack on Alaska's gas pipeline bill
Published in Saudi Press Agency on 03 - 05 - 2007


Major energy companies are declining
to participate in building a natural gas pipeline from
Alaska's North Slope, saying legislation meant to lure them
makes too many demands and offers too few assurances.
Exxon Mobil Corp., BP PLC and ConocoPhillips have told the
state Senate and House finance committees the Alaska
Gasoline Inducement Act will not generate competitive bids
to build a pipeline, according to AP.
«Unless (the act) is adjusted, ConocoPhillips would be
unable to make an ... application,» said Brian Wenzel,
vice president of ConocoPhillips' North Slope gas
development.
Under the act, producers and independent pipeline
companies can vie for the right to build a pipeline that
lawmakers hope will ship trillions of cubic feet of natural
gas to market.The administration of Gov. Sarah Palin also
believes the act will encourage pipeline expansion and
further development on the North Slope.
The act requires that companies bidding to build the
pipeline propose a route, construction timetable and
deadline for getting commitments to ship gas in the line,
all as part of their license application. Incomplete
proposals could be rejected by the Palin administration.
Producers say that structure is too restrictive. They want
broader objectives.
ConocoPhillips and Exxon Mobil Corp. told the House
Finance Committee on Wednesday that the act is overly
stringent.
Exxon Mobil's Marty Massey, who oversees commercialization
of the Irving, Texas, company's Alaska gas resources,
challenged the intended spirit of the act.
«AGIA, as it's written today, does not encourage
market-based competition due to its prescriptive nature,»
he said «We have consistently advised the Legislature and
the administration that AGIA in its current form, will not
encourage competitive proposals and will not result in a
commercially viable project.»
The act also provides tax breaks for 10 years to the first
companies pledging to ship gas in the pipeline, but
companies also want other considerations in areas such as
royalties, property taxes and income tax. Producers have
also long said they need the state to provide assurances
that resource production costs, such as royalties and
taxes, would remain constant and predictable.
-- SPA


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