Alaska officials release pipeline progress report

ANCHORAGE - Alaska state officials say they continue to be optimistic about the chances for a large-diameter natural gas pipeline from the North Slope to Lower 48 markets.

A state report completed to meet a legislative deadline concludes that TransCanada Alaska, which holds a state pipeline license, is on target to complete an initial open season by the end of July.

An open season is the period when natural gas producers can commit to reserving space on a proposed pipeline. The Alaska gas pipeline is estimated to cost $26 to $40 billion.

Mark Myers, the state's Alaska Gasline Inducement Act coordinator, says the state's expectations are being met.

He said TransCanada has expanded its project management team to 100 full-time employees and the state is seeing "a considerable uptick in activity."