 April 08, 2003
"I am especially pleased that the Legislature has acted quickly on the Stranded Gas Act," Murkowski said. "The main point is that the producers have agreed to move quickly once this legislation passed to evaluate the opportunity to have this project go forward. We expect to begin negotiations very soon with qualified sponsor groups. Our plan is to favorably conclude those negotiations before the end of the year. "I will direct my administration to work with project sponsors this year to find ways to provide fiscal certainty for a gas pipeline project, to find ways to lower the cost of the project, and to establish fiscal terms that enhance project feasibility." The bill makes several changes to state law. The bill lowers the bar in capital net assets and lines of credit, which broadens the potential for more companies to participate, including some in Alaska. It extends the expiration date of the Act to March 31, 2005 and gives the Department of Revenue the ability to use more than one independent contractor to assist the state in evaluating an application or developing contract terms. Murkowski signed the bill at
a luncheon of the Anchorage Chamber of Commerce, at which he
reported on his weekend meeting in Kaktovik with members of the
U.S. House of Representatives Resources Committee. The committee
chairman, Rep. Richard Pombo, (R-Calif.) held a field hearing
on a bill that would designate the Arctic National Wildlife Refuge
as permanent wilderness. Murkowski also commented on other initiatives
his administration is taking to increase oil and gas production
on the North Slope.
Source of News Release:
|