Alaska’s state-run development agency has OK’d a $50 million backstop for the ’s next step. The money will act as a sort of insurance policy for whichever company might take on the work.
Frank Richards is the president of the Alaska Gasline Development Corporation. That’s the state corporation overseeing the project. Last week, he told the Alaska Industrial Development and Export Authority, or AIDEA that the new work would update engineering and design from the last time it seemed like the pipeline project was moving forward – in 2015.
“This will allow us to essentially bring that cost estimate up to current dollars – 2025 dollars if we’re able to proceed here very quickly,” he said…