Alaska Sues BP, Exxon Over Natural Gas Supply
An Alaska state agency sued Exxon Mobil Corp. and BP, claiming that the two oil giants are restricting the nation’s supply of natural gas to boost prices.
The lawsuit, filed in U.S. District Court in Fairbanks by the Alaska Gasline Port Authority, says the two companies acted together to eliminate competition for the exploration, development and marketing of natural gas from the state’s North Slope to U.S. markets.
The suit arose from the producers’ refusal to sell supplies of natural gas to the port authority, which wants to build a pipeline from the North Slope to Valdez. Exxon Mobil and BP, along with ConocoPhillips, say the pipeline is not competitive with other projects around the world and are negotiating with the state for their own pipeline proposal.
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