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On March 30, 2012, the CEOs of ExxonMobil, ConocoPhillips and BP wrote to Alaska Gov. Sean Parnell to say they are working with TransCanada to reassess a liquefied natural gas export project from Alaska "as a result of the rapidly evolving global market." 

On Oct. 1, 2012, and on Feb. 15, 2013, the four companies updated Gov. Parnell on their initial work assessing an LNG export project.

Their early concept envisions a $45 billion to $65 billion project that includes a gas treatment plant on Alaska's North Slope, a roughly 800-mile pipeline, and a liquefaction plant with LNG storage and a two-berth tanker terminal at a site in Southcentral Alaska to be determined.

The export plant would have the capacity to make 15 million to 18 million metric tons of LNG annually, the equivalent of 2 billion to 2.4 billion cubic feet a day of gas.

The pipeline would carry 3 billion to 3.5 billion cubic feet per day from the North Slope fields, with Alaskans consuming some gas along the way and other gas consumed to run the pipeline and liquefaction plant.