Shale-gas boom kills majors’ Alaska link
Denali joint-venture between BP and ConocoPhillips is scrapped
NORTH America’s shale-gas boom has claimed a multi-billion dollar Arctic project and raised questions about two others in the region. A joint-venture between BP and ConocoPhillips – Denali – to build a gas pipeline from Alaska’s North Slope to the Lower 48 states has been scrapped because of insufficient customer interest. Denali has spent $165 million on a planned $35 billion pipeline to deliver 4.5 billion cubic feet a day (cf/d) of natural gas to Canada and the continental US. Project president Bud Fackrell said that, after 18 months of talks with potential shippers, it had failed to secure any binding agreements. In the absence of any deals – or demand - the partnership could not justify
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