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Senate Finance Advances TransCanada Buyout

KSRM News Desk

The Alaska Senate Finance Committee has advanced the legislation for the state buyout of TransCanada in the Alaska LNG Project.

 

The committee rewrote Governor Bill Walker’s bill before forwarding the legislation that includes the funding requested by the administration for the buyout and project related costs.

 

December 1 is the target date for completing the buyout of TransCanada Corp.’s interest in the proposed gasline and project partners are scheduled to vote on 2016 scope and budget at a December 4 meeting.

 

The oil company’s interests would be transferred to the Alaska Gasline Development Corporation, the organization which already would hold the state’s interest in liquefaction facilities.

 

The full Alaska Senate is expected to vote on the legislation soon. If passed the bill will go to the Alaska House which has also been holding hearings on the issue.

 

 

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