JUNEAU, Alaska (AP) - Two of the world's largest oil companies
announced plans Tuesday to jointly develop a multibillion dollar
natural gas pipeline to move North Slope natural gas to market.
BP PLC and Houston-based ConocoPhillips said in a joint
statement that they plan to spend $600 million to reach the first
major project milestone, an open season, commencing before the end
The two companies have assigned staff on the project, expected
to be the largest construction project ever in North America.
Gov. Sarah Palin had earlier rejected the proposal by
ConocoPhillips to build a natural gas pipeline linking the state's
energy rich North Slope to Midwestern states, opting to stick with
a plan by pipeline company TransCanada. That company's plan for a
pipeline remains under review.
(Copyright 2008 by The Associated Press. All Rights Reserved.)