by Ted Land
Friday, March 12, 2010
JUNEAU, Alaska -- Sponsors of a plan for a large-scale natural gas storage facility say it won't cost as much as previously thought.
The Cook Inlet Recovery Act would encourage companies to build a natural gas storage facility in southcentral Alaska, and would have offered up to $30 million in tax credits to do so.
During a House Resources Committee hearing Friday afternoon, sponsor Rep. Mike Hawker offered a different version of the bill which cuts that number in half.
The plan is to use old wells on the Kenai Peninsula to store gas for use on very cold winter days, when high demand threatens supply. The bill would also offer incentives to spur gas exploration in Cook Inlet.