April 9, 2004
The bill includes $650,000 in funding for the Alaska Natural Gas Development Authority for its continuing efforts to develop an LNG export project. This funding will allow ANGDA to continue in its efforts to identify and develop Pacific Rim markets (both on the US West Coast and in Asia). In addition, it will allow ANGDA to evaluate specific in-state needs on the Kenai and in the Anchorage area, as well as development of a petrochemical industry within Alaska.
An additional $1 million was authorized for expenditure on issues common to all the various pipeline proposals currently pending. Those common efforts include legal opinions examining the extent to which tax exempt bonding authorities can be employed in the financing of the pipeline, market evaluations, permitting issues, in-state consumption needs, and socio-economic studies on the pipeline's impacts on communities along its proposed route.
"This is another important step forward for my administration's commitment to bring Alaska's vast North Slope natural gas reserves to market in the Lower 48," Murkowski said. "I appreciate the leadership shown by Senate President Gene Therriault in introducing the bill and crafting it to accommodate the serious needs of the ongoing natural gas commercialization effort.
"Alaska has the gas resources and the market demand is growing stronger every day," he said. "The action taken today by the Legislature and my administration goes a long way to help us connect the dots that will make the gas pipeline a reality."
SB 241 has an immediate effective
date, which means the funds will be available right away to the
Department of Revenue.
Source of News Release: