The House Finance Committee voted to advance the same version of the TransCanada buyout bill that passed through the Senate yesterday.
A vote by the full House to authorize the state buyout of the oil company in the Alaska LNG Project could happen by the end of Wednesday.
The bill would appropriate approximately $68,455,000 for the state to acquire TransCanada Corp.’s interest in the proposed gasline project.
The legislation also requests additional appropriations totalling $75,600,000 to fund the State’s continued participation.
Under the arrangement that was created for the project before Gov. Walker took office, TransCanada would hold Alaska’s interest in the pipeline and gas treatment plant while the Alaska Gasline Development Corp. would hold Alaska’s interest in liquefaction facilities.
The governor recommended a buyout to give Alaska a better seat at the table for the project.
TransCanada Projects Director Vincent Lee said last Thursday the company supported the recommendation.