Alaska LNG facility files for extension |
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Fri, 19 Jan 2007 22:44
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HOUSTON (AFX) - ConocoPhillips and Marathon Oil Corp. said Friday they applied for a two-year extension on the export license for an Alaskan liquefied natural gas facility.The companies said the current license for the Kenai facility, which began operations in 1969, expires March 31, 2009. The plant is in Nikiski, Alaska, and employs 58 people.ConocoPhillips operates the plant and owns a 70 percent stake, with Marathon Oil owning the balance.ConocoPhillips shares rose $1.34, or 2.1 percent, to close at $63.95 on the New York Stock Exchange, where the stock has ranged between $54.90 and $74.89 over the past year.Marathon Oil gained $1.99, or 2.3 percent, to close at $87.17 on the NYSE, where shares have traded between $64.90 and $98.73 over the past year.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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