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BP, Conoco Halt $35 Billion Alaska Gas-Pipeline Project

BP Plc and ConocoPhillips dropped plans for a $35 billion Alaska natural-gas pipeline, once proposed to be the largest private construction project in U.S. history, because they didn’t get enough customer interest.

The companies will withdraw an application seeking federal approval to build a pipeline to bring gas from Alaska’s North Slope to U.S. and Canadian markets, according to a statement today. More than $165 million has been spent on the Denali project and the decision to end it comes amid changing North American markets including the rise of unconventional gas supplies, the companies said.