The US Bureau of Land Management issued an approval for a scaled-back version of a ConocoPhillips $7 billion oil and gas drilling project in Alaska, though also banned future energy activities on huge tracts of land in the state though the Alaska LNG export project is still expected to be given a full go-ahead soon.

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Alaska Governor Mike Dunleavy has just concluded a trade mission to Japan where he met executives of leading energy companies and utilities as well as government ministries to discuss Japanese companies procuring long-term Alaskan LNG supplies.

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Hilcorp Energy of the US, a major operator on Alaska's North Slope after the departure of UK major BP from the state, is now set to take over operations of the largest natural gas field run by ExxonMobil Corp. and which would underpin any future Alaska LNG export project.

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Alaska Gasline Development Corp., the lead developers of the Alaska liquefied natural gas export project, said regulators had published the final environmental impact statement for the venture to monetize North Slope gas and ship it to Asia as LNG.

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