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29

Alaska Gas Pipeline Report and Commentary

Friday, the Federal Coordinator of the Alaska Gas Pipelineproject to be, told members of Commonwealth North that theAlaska Gasline Inducement Act (AGIA), designed to provide a $500 million incentive, was never designed to produce a pipeline.

Alaska Gas Pipeline Report and Commentary Alaska Gas Pipeline Report and Commentary


Friday, the Federal Coordinator of the Alaska Gas Pipelineproject to be, told members of Commonwealth North that theAlaska Gasline Inducement Act (AGIA), designed to provide a $500 million incentive, was never designed to produce a pipeline. The Coordinator, Larry Persily (NGP photo) said citizens misunderstood or were misled if they believed incentive legislation could force a pipeline into existence, "AGIA won't get you a pipeline," he said, "AGIA gets you permits...."
Your author raised the issue of fiscal certainty for those who might desire to invest in the $40 billion project. Persily agreed that the investors could not move forward without fiscal certainty. Your author asked how FERC could issue a certificate if project proponents lacked a financing plan which would require fiscal certainty. He responded that the 2004 Act does not require FERC to evaluate a financing plan but to meet an expedited time deadline. The Act presumes the project to be in the public interest. A review of the state's analysis of the 2004 act, produces an understanding that the FERC is under heavy obligation to produce project approvals within 20 months of the filing of a "complete" application, assuming lack of a financing plan does not make the application "incomplete" (See Persily's PowerPoint slides here). (See Bill McAllister's Channel 11 Television report here. KTVA Photo-Left). Persily added that the Federal Coordinator has the authority to null conditions imposed by any permitting agency which may seem to the Coordinator excessive.
 

Source : Neftegaz.RU