Parnell: Pipeline agreement signed

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by Your Alaska Link News Team

Gov. Sean Parnell says an agreement has been signed that allows for the next stage in pursuing a major liquefied natural gas project.

Parnell says environmental field work and pipeline engineering have begun as part of a phase in which the parties are expected to spend hundreds of millions of dollars.

There's still no guarantee the mega-project will be built, but Parnell called the agreement and work underway a mark of significant progress.

The parties involved are BP, ConocoPhillips, ExxonMobil Corp., TransCanada Corp., and the Alaska Gasline Development Corp.

ConocoPhillips was previously a holdout in signing. A spokeswoman had declined to say what issues the company had, citing confidential negotiations.

Parnell said the project, in the coming weeks, will work to begin the process of securing an export license.