- Associated Press - Tuesday, November 3, 2015

JUNEAU, Alaska (AP) - The Alaska Senate has approved legislation to buy out one of the state’s partners in a proposed liquefied natural gas project.

The vote was 16-3, and it came 11 days into a special session called by Gov. Bill Walker to consider buying out TransCanada Corp.

The bill still must go to the House, which has been holding hearings on the issue since the session began.

Under an arrangement predating Walker’s administration, TransCanada would hold Alaska’s interest in the pipeline and gas treatment plant, while the state-sanctioned Alaska Gasline Development Corp. would hold Alaska’s interest in liquefaction facilities.

The corporation would acquire TransCanada’s interest under a buyout.

Walker recommended a buyout to give Alaska a greater say in the project. A TransCanada official said the company supported the recommendation.



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