(Anchorage) - The Legislative Budget & Audit Committee and the Senate Resources Committee will hold the first of three meetings on development and transportation of Alaska's North Slope natural gas resources June 16 and 17 at the Anchorage Legislative Information Office.

"The gas line is the most important issue in Alaska today. A contract will have to be voted up or down by the legislature, and these hearings will help give lawmakers the background information and insight necessary for making an informed decision. We must do all we can to ensure the best deal possible for the people of Alaska," said Rep. Ralph Samuels, chairman of the LBA Committee.

"Alaska is currently enjoying multiple competing stranded gas act applications. These hearings are intended to help us separate which applications are just cutting bait and which applications actually have their lines in the water," said Sen. Scott Ogan, chairman of the Senate Resources Committee.

The hearings are intended to prepare the Legislature for a potential request from the Administration to vote on one or more contracts proposed under Alaska's Stranded Gas Development Act. The first hearing will address pipeline costs and tariffs. The hearing will be held in the second floor conference room of the Anchorage Legislative Information Office, 716 West Fourth Avenue.

Those invited to testify include: BP, ConocoPhillips, Exxon, Anadarko, the Alaska Natural Gas Development Authority, the Port Authority, TransCanada, Enbridge Pipelines, Alliance Pipeline, Lukens Energy Group, JP Morgan, the Regulatory Commission of Alaska, the Departments of Revenue and Natural Resources, and the law firms Brena Bell & Clarkson and Morrison and Foerster.

The Alaska Stranded Gas Development Act allows entities interested in building an Alaska natural gas pipeline or shipping gas in that pipeline to negotiate tax, royalty, and other terms applicable to their new in-state investments and revenues generated from operations. Depending on the price of gas, the costs of construction, and the contract terms negotiated, a gas pipeline transporting North Slope natural gas to markets inside and outside Alaska has the potential to add hundreds of millions of dollars per year to the State treasury. It would also create in-State jobs, provide clean-burning energy to Alaskan consumers at reduced prices, and facilitate exploration for additional gas in Alaska's frontier basins.

# # #