Alaska Natural Gas Transportation System Statement by the President.

My administration's energy policy has always recognized that the energy problem is not unique to our country. The energy burden of the 1980's is shared by all the industrialized nations and by the lesser developed nations as well. Just as the energy burden is shared by all nations, so must the solution be borne by all in a cooperative spirit.

Just last month in Venice, I met with the heads of six other leading nations of the industrialized world to establish specific goals and a series of comprehensive commitments to conservation and the development of new energy supplies. At the time, we pledged increased international cooperation among ourselves and with other countries to help achieve these objectives.

When I met with Prime Minister Trudeau of Canada in Venice, we agreed that one of the potential cooperative projects-one that could be most meaningful to both our countries—was the Alaska Natural Gas Transportation System. I am very pleased that today the Canadian Government has announced its willingness to move forward on this vast project by approving the construction of the first major segment of what is intended eventually to be a 4,800-mile pipeline from Prudhoe Bay in Alaska through British Columbia and Alberta to the heartland of the United States.

This first segment, approved today by the Canadian Government, will enable U.S. consumers in 33 States to begin receiving additional natural gas from Canada by 1981, replacing 200,000 barrels a day of crude oil, even before the Alaskan and northern Canadian portions of the pipeline are completed. Eventually, too, Canadian natural gas from the north will be able to flow to consumers in Canada.

The entire project, which I approved in 1977, is intended to be completed in 1985 and will bring about 2.4 billion cubic feet of Alaskan natural gas to U.S. consumers each day, replacing more than 400,000 barrels of foreign oil. Prudhoe Bay natural gas represents 10 percent of our Nation's reserves.

I have today sent a letter to Prime Minister Trudeau expressing our confidence that this project will be carried forward to completion and become an example to the world of how international cooperation can serve the common energy needs of both partners. Both Houses of Congress have recently passed resolutions of support for the Alaska Pipeline, and I have been able to provide several specific assurances to Prime Minister Trudeau on our commitment as a nation to this joint project.

The pipeline is one of the most complex and demanding energy ventures ever undertaken. When completed, it will be a major element in our transition to a more diversified and secure energy economy.