ConocoPhillips Submits Proposal for Alaska Gas Pipeline

ConocoPhillips has submitted a proposal to the governor of Alaska to advance the development of the Alaska Gas Pipeline Project. The proposed pipeline would transport approximately 4 billion cubic feet per day of natural gas from the Alaska North Slope to markets in Canada and the United States.

ConocoPhillips is prepared to make significant investments, without state matching funds, to advance this project as part of this proposal. The company already has efforts underway to begin new field data acquisition to support the pipeline permit applications.

"We desire to work directly and purposefully with the state of Alaska and the Legislature to advance this project as quickly as possible," said Jim Mulva, chairman and chief executive officer of ConocoPhillips. "We also expect to approach other parties to explore ways through which their participation could add value to this effort."

During the initial phase of the project, Bechtel Oil, Gas and Chemicals, Inc. will provide engineering and technical support and other related project services.