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Alaska Gov. Parnell: Pipeline agreement signed

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Posted: Wednesday, July 2, 2014 4:34 pm | Updated: 4:35 pm, Wed Jul 2, 2014.

JUNEAU, Alaska - Gov. Sean Parnell says an agreement has been signed that allows for the next stage in pursuing a major liquefied natural gas project.

Parnell says environmental field work and pipeline engineering have begun as part of a phase in which the parties are expected to spend hundreds of millions of dollars.

There's still no guarantee the mega-project will be built, but Parnell called the agreement and work underway a mark of significant progress.

The parties involved are BP, ConocoPhillips, ExxonMobil Corp., TransCanada Corp., and the Alaska Gasline Development Corp.

ConocoPhillips was previously a holdout to signing because of issues the company said were confidential. A spokeswoman said those issues have been resolved.

Parnell said the project, in the coming weeks, will work to begin the process of securing an export license.

© 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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