ConocoPhillips Seeks Loan, Price Guarantees for Alaska Gas Line.

Oil Daily, The, September, 2003

HOUSTON -- The energy bill in final negotiations by a House- Senate panel contains many of the elements sought by North Slope gas producer and gas pipeline backer ConocoPhillips. However, exploitation of the 35 trillion cubic foot Alaskan treasure cannot proceed unless two other key, but contentious, provisions are among the final terms, says Don Duncan, vice president of federal affairs for the Houston- based major.

Without federal loan guarantees to back borrowing for the estimated $20 billion, 52-inch, 3,600-mile line from Prudhoe Bay to near Chicago and a minimum wellhead price of $1.30 per million Btu, Conoco simply cannot afford to pursue the daunting venture, Duncan told Oil Daily.

"We [told] conferees that in today's economic climate, we cannot move...