FERC has approved a request from ConocoPhillips and BP for a review of the proposed $30 billion Denali pipeline that would move natural gas from Alaska to the Canadian and U.S. markets. The Denali project proposes a new gas treatment plant for the North Slope in Alaska and a 48 to 52 inch diameter pipeline, which would travel over 700 miles from Alaska into Canada. The Denali proposal comes after a similar project had been proposed by TransCanada had previously been selected by the state government to build and operate a pipeline project under the Alaska Gas Inducement Act, and was awaiting formal legislative approval. The pipeline proposal submitted by TransCanada continues to receive support from Alaska Governor Sarah Palin