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Jan 16 (Reuters) - Alaska has signed an agreement with majoroil and gas firms to build an 800-mile pipeline to bring naturalgas from the state's North Slope to a proposed export plant andon to Asia.
The project, expected to cost between $45 billion and $65billion, would be one of the largest projects of its kind in theworld and would free gas stranded for decades without a market.
The project, which would liquefy the gas for shipment intankers overseas, is expected to take ten years to build,according to the state.
Asian nations like Japan and South Korea are spendingbillions to buy liquefied gas from North America to meet growingdemand for energy now that nuclear output has fallen after theFukushima accident in 2011.
Energy companies have proposed building 30 LNG exportterminals in North America over the next decade or so, includingthe Alaska project, though it is unlikely that all these will bebuilt.
The Alaska deal was signed with TransCanada Corp and the three major producers of Alaskan North Slope oil - ExxonMobil Corp, BP PLC, ConocoPhillips, andallows the state to invest in the project, Alaska Governor SeanParnell said in a statement Wednesday.
Producers have been re-injecting about 8 billion cubic feetper day of gas back into fields as the original plan to send itto other U.S. states was derailed by the shale gas boom.
"This commercial agreement...is Alaska's roadmap todeveloping our vast gas reserves," Parnell said. "This is trulya historic achievement."
The project aims to supply the Alaskan domestic market inaddition to the Asian markets, the governor said.
The Heads of Agreement, signed by the commissioners ofNatural Resources and Revenue and Alaska Gasline DevelopmentCorp (AGDC) includes the state as an equity partner.
The deal would also provide gas to Alaskans, lays outproposed fiscal terms, and will allow third-party access to allof the project components, including possible construction of anew LNG train at the liquefaction plant, the governor said.
Parnell said the agreement ensures Alaskans' interests areprotected by outlining significant participation by AGDC andrecognizes that AGDC will continue to pursue its own AlaskaStand Alone Pipeline instate gasline project.
The agreement will be subject to public review by theLegislature this session, the governor said.
