Enbridge: The other Canadian Pipeline Company

From CNNMONEY/Dow Jones:

Enbridge Inc. (ENB) is still in talks with ConocoPhillips (COP) and BP PLC (BP) about taking part in their natural gas pipeline from Alaska, the company said Thursday, even as the state government throws its support behind a competing project.

Canada's second-biggest pipeline firm added that it wouldn't rule out participation in a broader consortium involving Alaska's major gas producers and Calgary-based rival TransCanada Corp. (TRP), which recently won the approval of Alaska's senate.

"We're still continuing discussions" with ConocoPhillips and BP, Enbridge spokeswoman Jennifer Varey said. "We've always seen ourselves participating in a larger consortium...We certainly see a role for us."

-By Hyun Young Lee, Dow Jones Newswires

ENBRIDGE 2007 ANNUAL REPORT HERE

What About the Tar Sands?

Candidate Obama's website claims he supports "Create Millions of New Green Jobs" The last bullet point is "Prioritize the Construction of the Alaska Natural Gas Pipeline."

It's interesting to note that Alaska natural Gas is needed to develop Canadian Tar Sands .

Obama's support of the Alaska Gas Pipeline is appreciated, but does Obama also support development of Canadian Tar Sands as part of a "Green" agenda?

Also - the phrase "Prioritize the Construction of the Alaska Natural Gas Pipeline" could mean placing the Alaska Gas Pipeline at the bottom of the list. What's wrong with saying "Build the Alaska Natural Gas Pipeline"?

Obama should clarify these points before he is truly listed among supporters of the Alaska Natural Gas Pipeline.

Conoco and TransCanada Want Exxon To Join Gas Pipeline Effort

From CNN Money:

Conoco favors "taking ExxonMobil into the Denali project," said Brian Wenzel, Conoco's vice president of Alaska Gas Development. He added that the company would consider partnering with any other company that "provides value" to the project.

TransCanada has said Exxon's participation could be vital to its project.

ExxonMobil hasn't committed to either pipeline, although it has said it wants to participate in a project that would ship gas from the Point Thomson natural gas field on Alaska's North Slope, to the lower 48 states. The company said Thursday it wants to work with BP, Conoco, TransCanada and the Alaskan government to build a natural gas pipeline.

Exxon says they are ready "(Dow Jones)- Exxon Mobil Corp. (XOM) said Thursday it's ready to work with the Alaskan government and three companies competing to build a natural gas pipeline in the state, even as a dispute over leases revoked in 2006 looms in the background.

From the Denali Project

It's full steam ahead for the Denali team according to Bud Fackrell, President of Denali - The Alaska Gas Pipeline LLC

"The granting of the AGIA license will not affect the Denali work program, and as long as the State ensures a level playing field, should not affect Denali's steady march toward its first major milestone, an open season by the end of 2010."

Exxon & The Alaska Gas Pipeline

Here's a good story by the Canadian media on the role of Exxon in the Mackenzie Valley Pipeline and the Alaska Gas Pipeline.

In their opinion Exxon is still a key player in the development of Arctic gas resources.

They quote TransCanada chief executive officer Hal Kvisle as saying:

"Things aren't always as they seem," Mr. Kvisle said. "Exxon is not the front-and-centre party in the press but I know for a fact that they've got very hard work going."

Alaksa Senate Votes 14-5 for TransCanada Eh?

Today the Alaska Senate voted 14-5 to award a license to build a natural gas pipeline to TransCanada.

The license includes a $500 Million (US) payment from the State of Alaska to TransCanada to help the pipeline company move forward with the multi-billion dollar project.

It's not yet a ride on the gravy train with biscuit wheels for the Canadians. They will have to contend with the Denali Pipeline.

The Denali Pipeline doesn't have $500 Million of State handout money, but they do have gas to fill their pipeline. Committed gas is needed to secure funding to build the gas pipeline.

Competing ideas for a All Alaska / All American pipeline for LNG export are off the table for the time being.

It's a big gamble. The $500 Million is actually the smallest sum at risk. The TransCanada plan could derail or delay the ultimate pipeline by years if the process lands all parties in court.

Ironically a total solar eclipse started in the Arctic today over Canada...

A sign from above perhaps?

More AGIA Perspective from Frank Murkowski

The Fairbanks News-Miner has this Op-Ed piece by Frank Murkowski

It's worth reading in these final hours before the Senate vote on AGIA