BP, Conoco Phillips, and Exxon Mobil withdraw from AK-LNG project

    Representatives of BP, Conoco Phillips, and Exxon Mobil told a joint legislative resources committee hearing Thursday that the 65-billion dollar megaproject would be too unprofitable for them to move into the next phase of development.

    The major North Slope producers are quitting as partners in the AK-LNG gasline.

    The companies say they would be open to selling their North Slope gas for shipment down the pipe, if it is ever built.

    However, Enalytica Consultant Niko Savos told legislators that any deal that's good for gas sellers one one side of the table might not be good for the state, if it's the sole owner of the pipeline.

    Governor Walker says alternatives, such as third-party investors or other advantages from a wholly state-led project, could still make the difference. Walker added that a project that is not economically viable will not be built.

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