(JUNEAU) - Senator Bert Stedman (R-Sitka) has been named to the committee responsible for reviewing and approving a contract that could lead to the construction of a North Slope natural gas pipeline. Senator Stedman was officially named to the Legislative Budget and Audit Committee earlier this week and attended his first meeting today in Juneau.

The Legislative Budget and Audit Committee has the responsibility for providing the legislature with fiscal analysis, budget reviews and audits of state government agencies. In addition, the committee has authority to monitor the State's lending and investment activities.

The Murkowski administration is actively negotiating with several energy companies to build a natural gas pipeline, and a proposed contract could be submitted to the Legislature this session.

"The gas pipeline promises to send our state into a new era of economic prosperity. However, that can only happen if the committee does its job to make sure the project provides adequate revenue for the state and that the gas is readily available for in-state use," said Senator Stedman.

Senator Stedman has also been appointed Chairman of four Senate Finance Subcommittees - the Department of Commerce, Community & Economic Development, Department of Law, Department of Revenue and the University of Alaska. The finance subcommittees have the responsibility for analyzing the Governor's FY2006 departmental budget request and for making final appropriation recommendations to the full Senate Finance Committee.

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