Palin defends natural-gas pipeline strategy

ANCHORAGE, Alaska (Reuters) Amid economic jitters and worries about diminished investor interest in a massive North Slope natural gas pipeline, Alaska Gov. Sarah Palin on Wednesday defended her efforts to secure the mega-project that has been pursued for decades and that has been a centerpiece of her political career.

Palin said her administration’s competitive-bidding process, under a law called the Alaska Gasline Inducement Act, or AGIA, has produced concrete results.

“There had been no progress in the decades of talks and dreams and backroom deals and everything else in terms of hoping for some kind of natural gas pipeline to be built to commercialize Alaska’s rich resources until AGIA came along,” the Republican governor said at a news conference held in the state capitol in Juneau.

“I don’t think anybody can argue that, because today after this competitive process called AGIA, we have two projects progressing, plus in-state projects, and that’s good news for Alaska.”

Under the act, five entities submitted proposals, but only TransCanada Corp qualified. The state legislature, on Palin’s recommendation, granted an exclusive state license last year to the Calgary-based pipeline company.

Reuters