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Federal Coordinator Larry Persily today issued the following statement:

"The Denali project announced today it is closing down its effort to develop a pipeline for moving Alaska North Slope natural gas to Lower 48 markets. The Denali partners should be commended for spending $165 million of their own money on the project over the past three years.

"The competing project, a partnership between TransCanada and ExxonMobil, is continuing its effort to design and permit a natural gas pipeline from Alaska.  I hope that the partners in Denali - BP and ConocoPhillips - will someday find themselves at the table with ExxonMobil, TransCanada and the state to see if everyone can get together on this project that is so important to the state's economy and the nation's long-term energy supply.

"Though U.S. natural gas markets are well supplied in the near-term, that could change as the nation's utilities increasingly turn to cleaner-burning natural gas as the fuel of choice. There could be a place in the market for North Slope gas in the 2020s and beyond, and the gas line is too important to Alaska's economy not to keep trying.

"The TransCanada/ExxonMobil team is working toward submitting its project application to the Federal Energy Regulatory Commission in October 2012. The venture two weeks ago submitted the first of its draft resource reports to the commission, with all 11 reports expected in December. The project team will soon begin another field season in Alaska and Canada."

Read Denali’s announcement here

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Federal Coordinator issues statement on Denali