Conoco to Help Build Alaska Gas Pipeline

ConocoPhillips, the second-largest U.S. refiner, reached an agreement with Alaska to help build a $20-billion natural gas pipeline to supply the continental U.S., the state’s governor said.

Details of the contract won’t be released until Alaska reaches similar deals with Exxon Mobil Corp. and BP, Gov. Frank Murkowski said. The state proposed terms this month for the three companies to build the pipeline.

The line, expected to take at least 10 years to build, would run through Canada into the U.S., where rising demand has sent natural gas prices soaring.