TransCanada official expresses support for gas project

An official with TransCanada Corp. says the Canadian pipeline company strongly believes in the Alaska liquefied natural gas project it’s currently a partner in.

But Vincent Lee told the House Finance Committee the company supports Gov. Bill Walker’s recommendation that the state buy out TransCanada’s interest. He called it a mutual dissolution.

The Legislature is in special session to consider the buyout.

Walker has requested about $158 million, roughly $68 million of which would go to TransCanada. Remaining funds would go toward the rest of the state’s share for the current phase and costs for state agencies involved in the project.

As currently structured, TransCanada would hold Alaska’s interest in the pipeline and gas treatment plant. Walker argues a buyout would give the state a greater say in the project.