BP, ConocoPhillips Halt Proposed $35 Billion Alaska Gas-Pipeline Project: Bloomberg

Robin Rowland 

Bloomberg

BP, ConocoPhillips Halt Proposed $35 Billion Alaska Gas-Pipeline Project

BP Plc  and ConocoPhillips dropped plans for a $35 billion Alaska natural-gas pipeline, once proposed to be the largest private construction project in U.S. history, because they didn't get enough customer interest.

The companies will withdraw an application seeking federal approval to build a pipeline to bring gas from Alaska's North Slope to U.S. and Canadian markets, according to a statement today...

Halting Denali leaves one competing pipeline proposal, backed by TransCanada Corp. (TRP) and Exxon Mobil Corp. (XOM), to bring 4.5 billion cubic feet of gas a day from Alaska's North Slope... 

The two pipeline projects are not the only ways to sell North Slope gas, said Steve Rinehart, a spokesman for BP Alaska. Other options include liquefying the gas for transport to other markets by tanker, he said.

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