Companies announce LNG site for Alaska project

JUNEAU, Alaska — The companies seeking to advance a multibillion dollar natural gas pipeline project in Alaska have selected a port town where gas would be liquefied and shipped to Asia.

Irving, Texas-based Exxon Mobil, Britain’s BP, Houston-based ConocoPhillips and TransCanada on Monday say the Kenai Peninsula town of Nikiski is the leading contender for the terminal.

The announcement was seen as a significant step in the decades-old dream of building a natural gas pipeline to rival that of the trans-Alaska oil pipeline. But the companies haven’t yet committed to building the pipeline, which could cost $65 billion or more.

The pipeline at one time was meant to provide Alaska’s natural gas to the Lower 48. But with a glut of natural gas in the U.S., Alaska’s governor urged the companies to get behind a project capable of exporting to Asia.

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