With the global recession in full swing, oil-rich Alaska is enjoying some attention from two local energy giants.
Alaska gas pipelines are being wooed by Calgary-based TransCanada and Denali. Both companies are positioning themselves to build a 28 hundred kilometre line from Alaska to Calgary.
With the backing of Alaska's state legislature, TransCanada has put forward a proposal of 26 billion USD.
"We're prepared to take a haircut on our initial return if we over cost," said Tony Palmer of TransCanada.
Denali is partnering up with BP and Conoco-Phillips and already controls much of the state's natural gas reserves.
"Financing a project of this magnitude, plus or minus $30 billion is going to be an enormous undertaking, it's going to take strong financial backing to do that," said Bud Fackrell, Denali's president.
For 30 years, energy companies have been exploring the idea of a pipeline to get Alaska's gas to the market.
Even though the Alaska project is still a decade away, Yukon Premier Dennis Fentie remains optimistic.
"I can tell you we've made great progress over the last half dozen years and there's no reason to believe that won't continue."
The conference will continue Wednesday, when other pipeline projects will be on the agenda.
