TransCanada Wins Alaskan Vote to Build C$26bln Gas Pipeline
Late yesterday the Alaskan House of Representatives voted to accept TransCanada’s bid to build a 1,700-mile gas pipeline from Prudhoe Bay to an existing hub on the Alberta-BC border, capable of shipping 4bln CFD at a cost of C$26bln.
A state license would mean streamlined permits and a state match of up to $500mln for capital that TransCanada, the world’s largest pipeline company, spends on pre-construction costs.
The vote was 24-16 with some legislators in favor of awarding the contract to one of the major oil producers who were not looking for a state license, which they view as a subsidy, according to reports.