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Letter lays out planned exit from under AGIA
Within the next few months, the state and TransCanada could terminate their relationship under the Alaska Gasline Inducement Act, or AGIA.
Officials with the state and TransCanada signed a letter aimed at clarifying the path forward.
TransCanada won an exclusive license to pursue a pipeline but much has changed in the years since, including the type of project being pursued.
The state and TransCanada have signed a new agreement, spelling out a proposed working relationship on a proposed liquefied natural gas project.
Lawmakers are considering legislation to advance that project.
The letter states within 90 days of legislation passing, the parties would sign a preliminary commitment and agreement indicating how the state could exercise an equity buy-back option with TransCanada. They would then formally agree to abandon the AGIA license.