Petrie Parkman & Co. to advise in North Slope gas pipeline project

Sep 04, 2001 02:00 AM

Petrie Parkman & Co. announced that it has been retained by the Commissioner of Revenue for the State of Alaska as financial advisor for the evaluation of the State of Alaska's potential participation in owning an interest in or financing a North Slope natural gas pipeline project. Under the authority of State of Alaska Senate Bill 158, Petrie Parkman & Co. will assist the Commissioner of Revenue in the preparation of a comprehensive report addressing options for and analysis of the State's potential participation in a natural gas pipeline project to further the development of Alaska's natural resources.

The report will be presented to the Governor and the State Legislature and will include an examination of each of the announced North Slope gas pipeline proposals. The report will further analyse whether and how the state should take an equity ownership or other financial interest in a project.
Tom Petrie, chairman of Petrie Parkman & Co., stated "We are very pleased that the State of Alaskaselected Petrie Parkman for this critical and timely assignment. Current energy market conditions within North America indicate that one or more Alaskan pipelines may be economic. It is paramount that the best course of action is determined by the State. An interesting opportunity exists to benefit both the citizens of Alaska and the interests of natural gas consumers in North America."

Petrie Parkman & Co. is a specialized investment banking firm focused on energy issues and transactions. The firm provides worldwide investment banking, client advisory, and capital markets services from its offices in Denver, Houston and London.
Petrie Parkman & Co. also has an extensive practice in assisting governmental entities in analysing strategic policy initiatives. The firm currently is providing strategic advice to the Kingdom of Saudi Arabia concerning its Natural Gas Initiative and previously advised the United States of America in the privatisation of the Elk Hills Naval Petroleum Reserve.

Source: PR NewsWire
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