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Alaska LNG Project Selects Lead Terminal Location



  Alaska LNG Project Selects Lead Terminal Location

Business Wire

ANCHORAGE, Alaska -- October 7, 2013

ExxonMobil, BP, ConocoPhillips and TransCanada have selected a site in the
Nikiski area on the Kenai Peninsula as the lead site for the proposed Alaska
LNG project’s natural gas liquefaction plant and terminal.

More than 20 locations were evaluated based on conditions related to the
environment, socioeconomics, cost, and other project and technical issues.

“This is a step forward for the Alaska LNG project and shows continued
progress toward building Alaska’s energy future,” said Steve Butt, senior
project manager. “The work that we have put into the site selection process
gives us confidence that the Nikiski site is the lead location for the LNG
plant and terminal. The Nikiski site also results in a pipeline route that
provides an access opportunity to North Slope natural gas by the major
population centers in Fairbanks, Mat-Su Valley, Anchorage and the Kenai
Peninsula.”

A number of engineering, technical, regulatory, fiscal, commercial and
permitting issues still need to be resolved as work on the potential $45-65+
billion project progresses. While Nikiski is the lead site, the project team
continues to consider other secondary locations. Pipeline routing definition
work also continues based on the project summer field work activities, which
will be extended south of Livengood.

The companies are continuing to refine the agreed project concept that
includes a gas treatment plant located on the North Slope, an 800-mile,
42-inch pipeline with up to eight compression stations and at least five
off-take points for in-state gas delivery, and a liquefaction plant and
terminal. The teams are currently preparing for more detailed engineering and
design work, consistent with previously released plan phases.

A competitive, predictable and durable oil and gas fiscal environment will be
required for a project of this unprecedented scale, complexity and cost to
compete in global energy markets. The companies remain committed to working
with the state to responsibly develop North Slope resources. A successful
project could provide a host of economic benefits to Alaskans including state
revenues, new job opportunities and access to decades of domestically-produced
natural gas for homes and businesses.

EXXONMOBIL

CAUTIONARY STATEMENT:

Estimates, expectations, and business plans in this release are
forward-looking statements. Actual future results, including ultimate
recoveries and project plans, costs, and schedules, could differ materially
due to changes in market conditions affecting the oil and gas industry or
long-term oil and gas price levels; political or regulatory developments;
reservoir performance; timely completion of development projects; technical or
operating factors; and other factors discussed under the heading "Factors
Affecting Future Results" in the Investors section of our website
(www.exxonmobil.com) and in Item 1A of our most recent Form 10-K. References
to “resources" and similar terms include quantities of oil and gas that are
not yet classified as proved reserves but that we believe will be produced in
the future. The term "project" as used in this release does not necessarily
have the same meaning as under SEC Rule 13q-1 relating to government payment
reporting.

BP

CAUTIONARY STATEMENT

This release contains statements that are forward-looking statements and
involve risks and uncertainties. It is believed that the expectations
reflected in these statements are reasonable, but actual results may differ
from those expressed in such statements, depending on a variety of factors,
including: the specific factors identified in the discussions accompanying
such forward-looking statements; industry product supply; demand and pricing;
political stability and economic growth in relevant areas of the world;
development and use of new technology and successful commercial relationships;
the actions of competitors; natural disasters and other changes in business
conditions; and wars and acts of terrorism or sabotage.

CONOCOPHILLIPS

CAUTIONARY STATEMENT FOR THE PURPOSES OF THE “SAFE HARBOR” PROVISIONS OF THE
PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

The following presentation includes forward-looking statements. These
statements relate to future events, such as anticipated revenues, earnings,
business strategies, competitive position or other aspects of our operations
or operating results. Actual outcomes and results may differ materially from
what is expressed or forecast in such forward-looking statements. These
statements are not guarantees of future performance and involve certain risks,
uncertainties and assumptions that are difficult to predict such as oil and
gas prices; operational hazards and drilling risks; potential failure to
achieve, and potential delays in achieving expected reserves or production
levels from existing and future oil and gas development projects; unsuccessful
exploratory activities; unexpected cost increases or technical difficulties in
constructing, maintaining or modifying company facilities; international
monetary conditions and exchange controls; potential liability for remedial
actions under existing or future environmental regulations or from pending or
future litigation; limited access to capital or significantly higher cost of
capital related to illiquidity or uncertainty in the domestic or international
financial markets; general domestic and international economic and political
conditions, as well as changes in tax, environmental and other laws applicable
to ConocoPhillips’ business and other economic, business, competitive and/or
regulatory factors affecting ConocoPhillips’ business generally as set forth
in ConocoPhillips’ filings with the Securities and Exchange Commission (SEC).

TRANSCANADA

FORWARD LOOKING INFORMATION

This publication contains certain information that is forward-looking and is
subject to important risks and uncertainties (such statements are usually
accompanied by words such as "anticipate", "expect", "would", "will" or other
similar words). Forward-looking statements in this document are intended to
provide TransCanada security holders and potential investors with information
regarding TransCanada and its subsidiaries, including management's assessment
of TransCanada's and its subsidiaries' future financial and operation plans
and outlook. All forward-looking statements reflect TransCanada's beliefs and
assumptions based on information available at the time the statements were
made. Readers are cautioned not to place undue reliance on this
forward-looking information. TransCanada undertakes no obligation to update or
revise any forward-looking information except as required by law. For
additional information on the assumptions made, and the risks and
uncertainties which could cause actual results to differ from the anticipated
results, refer to TransCanada's Quarterly Report to Shareholders dated July
26, 2013 and 2012 Annual Report filed under TransCanada's profile on SEDAR at
www.sedar.com and with the U.S. Securities and Exchange Commission at
www.sec.gov and available on TransCanada's website at www.transcanada.com.

Photos/Multimedia Gallery Available:
http://www.businesswire.com/multimedia/home/20131007006420/en/

Multimedia
Available:http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50723952&lang=en

Contact:

Upstream Media Relations
713-656-4376
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