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January 16, 2013

Alaska: no shortfall in natural gas pipeline fund

JUNEAU, Alaska (AP) — Gov. Sean Parnell's budget director says the administration doesn't expect a shortfall next fiscal year in the amount budgeted for work on a major natural gas pipeline project.

The state agreed to pay TransCanada Corp. up to $500 million in reimbursable expenses for work to advance the project. Parnell budget director Karen Rehfeld says $305 million has been appropriated to date. She says that as of Dec. 31, nearly $223 million had been paid to TransCanada.

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