TransCanada and ExxonMobil are partnering to create a natural gas pipeline to delivery points in Alaska and ultimately the Lower 48 market, according to a Thursday press release from TransCanada.
The 1,700-mile line is expected to cost $26 billion to build.
Exxon, which controls the largest share of Alaska gas reserves and the largest energy company in the U.S., will now be involved in all technical, commercial, regulatory and financial aspects of the project, according to an alignment summary attached to the press release.
Exxon representatives would not say Thursday if the company would have ownership of part of the line, but did say that TransCanada would retain a controlling interest in the project.
The 1,700-mile line is expected to cost $26 billion to build.
Exxon, which controls the largest share of Alaska gas reserves and the largest energy company in the U.S., will now be involved in all technical, commercial, regulatory and financial aspects of the project, according to an alignment summary attached to the press release.
Exxon representatives would not say Thursday if the company would have ownership of part of the line, but did say that TransCanada would retain a controlling interest in the project.