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Oil behemoths BP and ConocoPhillips have scrapped plans to build a $35 billion pipeline to move natural gas from Alaska to the Lower 48. BP and ConocoPhillips claim that the decision to abandon the massive natural gas pipeline project was driven by weak customer demand.

The decision, though not a complete shocker, was nonetheless a blow to Alaska's long-delayed hopes of exporting more of its abundant natural gas. A rival proposal, backed by Exxon Mobil and TransCanada Corporation, a company focused on natural gas transmission, remains in the works. However, the announcement by the BP-Conoco coalition, known as Denali, questions the viability of an Alaskan pipeline project. The $35 billion pipeline was to carry approximately 4.5 billion cubic feet of natural gas out of Alaska per year.

Opponents of the pipeline claim that technology to exploit natural gas locked in shale deposits in the Lower 48 eliminates the need for Denali. Shale basins are scattered across the U.S.

[Source: UPI]


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    • 1 Second Ago
  • 7 Comments
      • 3 Years Ago
      Only problem is that shale natural gas requires a very energy and water intensive process called fracking which leaves chemically saturated water deep underneath the ground and into the water table.
      tantareanujellob
      • 3 Years Ago
      LOL what happend to drill drill drill?
      Rotation
      • 3 Years Ago
      The only plan that ever made sense was the one to send the gas over to the Yukon territory to go down Canada's pipeline. It was killed for political and boondoggle (the Federal money for the pipeline would be a stimulus to the local economy like the Road to Nowhere) reasons. Maybe now it will come back.
      Floorman
      • 3 Years Ago
      Them native Alaskans didnt need the jobs anyway.
      Ziv
      • 3 Years Ago
      This is kind of amusing. You all do understand that Sarah Palin's Transcanada pipeline is going forward and the one that was in competition is failing? Sarah Palin seems to win big. LOL! Dare we say, Sarah Palin was right? Maybe to really foment discussion, we might add, "again"? Could it be that 'Drill, baby, drill' makes more sense in the short to medium term? I don't agree with Palin on much, but I do like to see the underdog win from time to time. http://en.wikipedia.org/wiki/Alaska_gas_pipeline
      Noz
      • 3 Years Ago
      It they scraped the idea when they realized that they can't start a war in their own country - "Guys....let's bomb Alaska and start a war....wait WAIT....that's in the USA....nevermind....not to worry....we're soon going to destroy the Arctic instead."
      Nick
      • 3 Years Ago
      Anybody who knows about fracking knows this is good news. Destroying the environment we live in and depend on is the dumbest thing man can do.