(a) A contract entered into by an in-state natural gas pipeline carrier may provide for expansion unless the expansion would cause the pipeline to be a competing natural gas pipeline project for purposes of Alaska Stat. Chapter 43.90.
Terms Used In Alaska Statutes 42.08.370
Contract: A legal written agreement that becomes binding when signed.
Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
(b) The recourse tariff or a contract filed by an in-state natural gas pipeline carrier may include a dispute resolution procedure. A dispute resolution procedure shall
(1) provide that notice of a dispute be given to all shippers;(2) culminate in a process that is determined by an independent third party or panel; and(3) permit the participation of existing shippers and creditworthy potential shippers that have previously made good faith requests for firm transportation service; a participant must satisfy the commission’s standard for intervention in an adjudicatory proceeding and demonstrate that the participant has a property, financial, or other significant interest in the dispute.
