Governor Parnell signs gas trucking bill into law.

On Wednesday evening in Fairbanks, Governor Sean Parnell signed Senate Bill 23, in support of the much publicized Interior natural gas trucking project.

The signing took place in front of a packed house at Fountainhead Antique Auto Museum at Wedgewood Resort, and Parnell did the honors as elected officials from the Interior and

other parts of the state looked on.

The Republican governor says Fairbanks, will see energy costs drop "for the first time in years."

The legislation now paves the way for more than $330 million of bonds, low-interest loans and grants available to the private sector or a municipal utility to pursue a plan to truck and

distribute North Slope liquefied natural gas.

The plan is to start construction of a North Slope processing plant and an Interior distribution and storage infrastructure by the end of 2015.