Oct. 2--Many Alaskans don't know it, but there's a long, 30-year history to TransCanada Corp.'s interest in Alaska natural gas.

From the 1970s on, the Calgary-based company has been part of almost every effort to bring the Alaska gas project to reality, and has shared in the disappointments when previous projects failed to move forward.

Patience, and strategic vision, are words that come to mind.

TransCanada's key executives have a lot of history with Alaska gas, too. Tony Palmer, who heads the company's latest initiative, has been focused on Alaska since 2001. Along with overcoming commercial obstacles, Palmer has deftly guided the company through Alaska's political minefields.

The stars may finally be aligning for Alaska gas and TransCanada. There's momentum behind the pipeline project, and while it's currently uncertain just who will be in a consortium to develop this mega-project, TransCanada seems almost certain to be included and to play a critical role.

That's partly because the pipeline company has now persuaded one of the key club members holding North Slope gas owners, ExxonMobil Corp., to join it in preparing for a planned 2010 open season.

ExxonMobil has clout with BP and ConocoPhillips, the two other major gas owners who are now leading Denali, a separate company that aims to build a gas pipeline.

The goal for ExxonMobil and TransCanada now is to get everyone together into one group, which is what is needed to make the project really happen.

TransCanada is interested in Alaska gas because if a pipeline is to be built across Canada to move gas to the Lower 48, the company wants to be part of the venture. However, if customers are more interested in a liquefied natural gas, or LNG, project instead of an all-land pipeline, under terms of an agreement with the state TransCanada is prepared to work with them on that, Palmer has said.

All the work is now focused on the 2010 open season, which is when TransCanada will have more detailed cost estimates and will solicit customers to ship gas.

Palmer says he expects bids to be made for capacity in the pipeline, but that those bids will be conditioned on issues to be resolved, issues such as the need to negotiate fiscal terms with the state.

It will take some time to resolve these items, but in the meantime the project will have taken a giant step forward because gas shippers, most likely the companies that own gas, will be proposing actual commitments to a pipeline.

Long time coming

Whatever conditions gas shippers put on their proposals, the pace of the project will almost surely pick up.