November 3, 2015 JUNEAU – Governor Bill Walker today expressed his gratitude to the Alaska State Senate for taking action to advance the Alaska LNG project by passing SB 3001.

The Governor specifically thanked Senate Finance Co-Chairs Senator Anna MacKinnon and Senator Pete Kelly for the productive dialogue and support during this special session.

“I thank Senator MacKinnon and Senator Kelly for their leadership in moving this legislation forward,” said Governor Walker. “I am hopeful the House will similarly understand the importance of this legislation, which will allow us to move forward in a project that best serves Alaska.”

SB 3001 requests an appropriation to the Alaska liquefied natural gas project fund in the amount estimated to be $68,455,000 in order to acquire the interests of TransCanada.

Additionally the bill requests necessary appropriations totaling $75,600,000 related to the State’s continued participation in the Alaska LNG project. This appropriation is to fund the state’s share of preliminary front-end engineering and design work for the Alaska liquefied natural gas project.

[xyz-ihs snippet=”adsense-body-ad”]“As we grapple with a $3.5 billion deficit and declining oil prices and production, it is essential that we advance a gasline project that is projected to bring in billions of dollars in annual revenue,” Governor Walker said. “We know the markets need the liquefied natural gas, and it’s critical that we act expeditiously to advance this project. I am pleased with the assurances I have received from our project partners, and I will remain focused on making sure Alaska gas is available in order to further the success of the Alaska LNG project.”

The sum is broken out into three state department appropriations as follows:

· The Department of Natural Resources (DNR) would receive $1,849,500 for administration and support services, North Slope gas commercialization, for a marketing lead position, a marketing analyst position, work related to Federal Energy Regulatory Commission resource reporting reviews and drafting, facilities review for commercial aspects, commercial analysis and support, and audits associated with the termination of the agreement with TransCanada Alaska Midstream Limited Partnership.

· The Department of Revenue would receive $1,045,500 for administration and support services, natural gas commercialization, personal services for work on financial analysis, project financing, governance, and the revenue aspects of revenue and taxes.

· The Department of Law would receive $10,100,000 for contractual services with law firms to assist DNR in drafting and reviewing contracts related to the Alaska LNG project and to provide legal and regulatory support for state participation in the Alaska LNG project.

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