Progress On North Slope Gas Project

Great news this week on the Alaska Natural Gas Pipeline project.

ConocoPhillips vice president of Alaska North Slope gas development Brian Wenzel, and ConocoPhillips Alaska President Jim Bowles announced that ConocoPhillips plans to get to work on the gas pipeline.

Fairbanks New-Miner State Reporter Stefan Milkowski reports that ConocoPhillips will spend up to $40 million this summer doing field work necessary to get the project off the ground.

In a press release by ConocoPhillips Wenzel says "Despite the lack of progress with the State of Alaska, as an initial step ConocoPhillips will continue its planning and contracting efforts in preparation for a route reconnaissance and environmental studies starting in June 2008,” “It is important that we take advantage of this summer field season and keep this project moving ahead.”

ConocoPhillips is the #1 producer of Alaskan Oil and has the most to lose if the pipeline project fails.

In other good news ExxonMobil has announced plans to supply Fairbanks with liquefied natural gas (LNG) . The LNG will be produced on the North Slope and transported by truck to Fairbanks.

Looks like North Slope Gas can be developed without the AGIA afterall. It's all about making progress.