State senator is not sure Transcanada is serious about Alaska

JUNEAU, Alaska — A Senate Finance Committee co-chair says he’d like to know by next summer if the state should back out of the Alaska Gasline Inducement Act.

Sen. Bert Stedman (R - Sitka) expressed doubt last week and again today that the state payments to Transcanada would amount to a real gasline.

“At some point it is useless for the state to continue to expend hundreds of millions of dollars on a project that’s most likely not going to go forward,” said Sen. Stedman.

Stedman says the growing shale gas industry in the lower 48 makes Arctic gas less marketable and says Transcanada’s latest spending figures don’t convince him the company is serious about Alaska.

He’s not optimistic about Denali’s chances, either.

House Speaker Mike Chenault (R - Nikiski) says there is growing skepticism among his caucus, but Democrats and the Governor say to give it more time.