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Alaska: Uncertain Future for Pipeline Project as State Waits for Election Results

Midstream & Infrastructure
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As of November 10, the Alaska Division of Elections was continuing to tally absentee and early votes to determine the winner of the gubernatorial race. Currently, independent candidate Bill Walker is leading Republican Governor Sean Parnell by a slim margin. Oil and gas industry supporters are concerned about the future of the proposed multibillion-dollar LNG pipeline project if Walker were elected governor. Describing the state’s agreement with industry partners as “fatally flawed,” Walker previously pledged to renegotiate the state’s contract terms on the pipeline. Current enabling legislation calls for the state to hold 25 percent ownership in the pipeline project. Walker would like to see the state hold 51 percent ownership. Current partners on the project with the state include ExxonMobil, BP Alaska, ConocoPhillips Alaska and TransCanada. It is not clear at this time what impact a renegotiation of contract terms would have on the project’s progress.