House Finance advances TransCanada buyout bill

JUNEAU — The House Finance Committee has advanced legislation to authorize a buyout of one of the state’s partners in a major proposed liquefied natural gas project.

The version of the bill that advanced Wednesday morning is the same that passed the Senate on Tuesday.

A vote by the full House could come as early as Wednesday.

The Legislature is meeting in special session to consider Gov. Bill Walker’s recommendation that the state buy out TransCanada Corp.’s interest in the project. Under an arrangement predating Walker taking office, TransCanada would hold the state’s interest in a pipeline and gas treatment plant, and the state-sanctioned Alaska Gasline Development Corp., or AGDC, would hold the state’s interest in liquefaction facilities.

If the buyout is approved, AGDC would acquire TransCanada’s interest.

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