TransCanada and ExxonMobil have reached an agreement to work together on an Alaska gas pipeline. TransCanadas Alaska Pipeline Project is estimated at $26bn. TransCanada Alaska Company, LLC and subsidiaries of Foothills Pipe Lines Ltd. will remain the Alaska Gasline Inducement Act (AGIA) licensees and TransCanada will continue as the primary point of contact with the State of Alaska and the general public for this project. In November 2007, TransCanada Alaska and Foothills jointly submitted an application under AGIA to build a 46 bcm/year natural gas pipeline running approximately 2,700 km from a new natural gas treatment plant at Prudhoe Bay on Alaskas North Slope to Alberta, Canada with an LNG option to deliver gas supplies to a liquefaction facility at Valdez. In December 2008, TransCanada was awarded the AGIA license after prevailing in an open and transparent competitive bid process and receiving the approval of the Alaska legislature. TransCanada has moved forward with project development, which includes engineering, environmental reviews, Alaska Native and Canadian Aboriginal engagement, and commercial work to conclude an initial binding open season by July 2010. The companies estimate the pipeline would be completed by 2018.