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Alaska signs gas pipeline project deal with China

FILE - In this Tuesday, April 18, 2017, file photo, Alaska Gov. Bill Walker addresses reporters during a news conference in Juneau, Alaska. The state of Alaska will attempt to advance a multibillion dollar natural gas pipeline project with the help of interests from China. Walker said the agreement signed late Wednesday, Nov. 8, 2017, is with Sinopec, China Investment Corp. and the Bank of China. (AP Photo/Becky Bohrer, File)
November 09, 2017 - 2:03 AM

ANCHORAGE, Alaska - The state of Alaska has taken a major step toward realizing a long-sought pipeline to move natural gas from the North Slope to Asia.

The agreement Alaska Gov. Bill Walker signed Thursday in Beijing with Sinopec, China Investment Corp. and the Bank of China does not guarantee a pipeline will be built, but it gives the lingering liquefied natural gas project a jolt of life.

The agreement was signed as both U.S. President Donald Trump and Chinese President Xi Jinping watched. No financial terms were released, but it's been estimated that the project could cost $43 billion.

The state is siding with interests from China after major oil companies stepped back from the project.

News from © The Associated Press, 2017
The Associated Press

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