Alaska Gov. Sean Parnell said Wednesday that the major oil companies and the state have reached a commercial agreement on terms for a gas pipeline across Alaska.
But it's not a promise to build a pipeline or start moving dirt.
"This commercial agreement, with its transparent set of terms, is Alaska's roadmap to developing our vast gas reserves," Parnell said.
"This is truly a historic achievement. Not only have all the necessary parties aligned around a single project, but we're moving forward with a project that's on Alaska's terms and in Alaskans' interests. I extend my thanks to all of the parties for the hard work that went into this agreement, and look forward to working with legislators on laying the framework to best manage our gas resources."
In a press release, Parnell said the agreement will advance engineering and design work and establish a "framework for negotiating" agreements to build a pipeline from the North Slope to the Kenai Peninsula.
The deal was signed by the state commissioners of natural resources and revenue, Exxon Mobil Corp., BP, ConocoPhillips, TransCanada, and the Alaska Gasline Development Corporation.
The governor said that under the deal, which would set tax rates, the state would own part of the pipeline, while Alaskans would have access to gas.
This is a developing story. Please check back for updates.
Contact Dermot Cole at dermot(at)alaskadispatch.com. Follow him on Twitter @dermotmcole.