TransCanada, ExxonMobil join forces on Alaska natural gas pipeline

TransCanada Corp. and ExxonMobil Corp. reached agreement June 11 to work together on TransCanada's Alaska Pipeline Project natural gas pipeline.Tony Palmer, TransCanada vice-president of Alaska development, said the two companies will now jointly advance all aspects of the projects: technical, financial, and regulatory. The companies also will share costs, with TransCanada maintaining a majority interest in the project. Neither Palmer nor Marty Massey, ExxonMobil Production Co. US joint interest manager, would divulge specific percentages of ownership. The two addressed media in a conference call following the announcement.Palmer noted that the state of Alaska had reviewed the arrangement...

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