JUNEAU, Alaska -

Alaska is dropping its years-old agreement with Canadian pipeline building TransCanada Corp. in a bid to pave a new way forward for its long-hoped for natural gas pipeline.

Gov. Sean Parnell said Friday the split was amicable. The Republican governor said when a 2007 law was drawn up aimed at advancing a project, it was designed for only one project developer. But, the liquefied natural gas project now being pursued involves multiple interests.

He said TransCanada will continue playing a role, just under a different commercial agreement that would also include Exxon Mobil Corp., BP, ConocoPhillips and state interests. The administration also plans to seek legislative approval for state participation.