Speculation about whether BP might soon be divesting itself of some or all of its Alaska assets is causing some political handwringing over what all this might mean for the state's efforts to finally get a natural gas pipeline built. Some say BP's corporate uncertainty is coming at a particularly bad time for Alaska because it's right in the middle of efforts by backers of two natural gas pipeline projects -- backers that include BP itself -- to get commitments from potential gas buyers.

But all the speculation isn't stopping the Alaska Natural Gas Development Authority and local utilities from bidding in both open seasons that are now underway as the two pipeline companies try to gauge whether there's enough interest from buyers to warrant building a large-diameter line from the North Slope into Canada or, under one alternative, to a liquefied natural gas plant in Valdez.

ANGDA chief executive officer Harold Heinze says the gas, which is being offered at a discounted price to open season bidders, is a great deal for Alaska consumers.

"Of all of the different options that we know of for getting North Slope gas to the Alaskan consumer, if the big gas line happens, that is the best thing to do, bar none," Heinze said. "It's real important that we participate in it now because it's the initial offering."

In June, ANGDA's board of directors voted to drop efforts for an in-state gas line, a project that had been called the Beluga to Fairbanks, or B2F, line. The board directed the agency, which was created by voters in 2002 to help get North Slope gas to market, to bid on both projects' open seasons.

Heinze says bidding is a no-brainer, not only for his group -- which includes electric utilities in Homer, the Matanuska Valley, Anchorage and Fairbanks -- but for anyone interested in getting Alaska natural gas at cut-rate prices.

Both pipeline projects are offering a deep discount to attract what are essentially first-time buyers. "If we participate now we get extremely favorable terms," Heinze said. "Basically the pipeline is offering us a third off."

The pipeline companies have made it clear that the discount ends when the open season ends. That's a discount the utilities will be able to pass on to consumers, Heinze said, if and when the pipeline gets built.

That's a very big if. And when. Whether the gas line ever gets built -- and the state has been watching that effort play out for about 30 years -- is a whole different matter. And some experts think BP's recent financial troubles stemming from the Gulf of Mexico oil spill may put the brakes on any momentum this time around, too, at least for the BP-backed project.

The Denali project, a gas pipeline joint venture of BP and ConocoPhillips, began its open season July 6. It ends Oct. 4. Open season for a separate state-backed joint venture between TransCanada Corp. and Exxon Mobil Corp., called the Alaska Pipeline Project, has been underway for a few weeks and wraps up July 30. Some reports have suggested all four companies might be interested in working together under the right circumstances, rather than remaining rivals.

"It's probably not good for the Denali pipeline open season to have uncertainty in one of its major partners," said longtime economist and consultant Gregg Erickson. "But on the other hand, it might be good for the prospects of Denali and TransCanada to get together."

Jeff Lowenfels, who has been involved in gas line issues for more than 30 years and was a key member of former Gov. Wally Hickel's gas line team, said the rumors over BP's financial predicament and possible selloff "obviously" will have some repercussions for whatever proposals may be out there, if not on open season bidding then on the construction of a gas line altogether.