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Article: Exxon Makes Alaska Pipeline Deal - Analyst Blog
- Article from:
- Zacks Investment Research - Analyst Blog
- Article date:
- June 12, 2009
- Author:
CopyrightCopyright 2009 Zacks Investment Research. (Hide copyright information)
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Exxon Makes Alaska Pipeline Deal - Analyst Blog
Exxon Throws Weight Behind Alaska Pipeline
Exxon
(
XOM
) has finally decided to throw its weight behind the
TransCanada Corp.
(
TRP
)-sponsored Alaska Pipeline project that will bring stranded Alaskan natural gas to consuming markets in the U.S. Lower 48. TransCanada's 1,700 mile, 48-inch diameter pipeline has the support of the Alaskan and Canadian governments. The Alaska government passed legislation last year that would subsidize the initial project costs by up to $500 million.
While details of the deal between the two companies were not released, it is expected that TRP will remain the project's operator. This pipeline, expected to cost ...