In this chapter, unless the context otherwise requires,

(1) “affiliate” means another person that controls, is controlled by, or is under common control with a person, and includes a division that operates as a functional unit;

(2) “Alaska Gasline Inducement Act coordinator” or “coordinator” means the person appointed under AS 43.90.250;

(3) “applicant” means a person or group of persons that files an application for a license;

(4) “certificate of public convenience and necessity” and “certificate” mean a certificate of public convenience and necessity issued by the Federal Energy Regulatory Commission or the Regulatory Commission of Alaska and an amendment to a certificate of public convenience and necessity issued by the Federal Energy Regulatory Commission under 15 U.S.C. 719 et seq. (Alaska Natural Gas Transportation Act of 1976);

(5) “commencement of commercial operations” means the first flow of gas in the project that generates revenue to the owners;

(6) “commissioners” means the commissioner of revenue and the commissioner of natural resources, acting jointly;

(7) “control” means the possession of ownership interest or authority sufficient to, directly or indirectly, and whether acting alone or in conjunction with others, direct or cause the direction of the management or policies of a company, and is rebuttably presumed if the voting interest held is 10 percent or more;

(8) “equity holder” means the

(A) stockholders of a corporation;

(B) members of a limited liability company;

(C) partners of a partnership;

(D) joint venturers of a joint venture;

(E) members of a governmental authority and similar persons; or

(F) holders of any other entity or person;

(9) “gas treatment plant” means a facility downstream of the point of production that conditions gas and removes nonhydrocarbon substances from the gas for the purpose of rendering the gas acceptable for tender and acceptance into a gas pipeline system;

(10) “governing body” means a corporation's board of directors, a limited liability company's managing members, a partnership's general partners, a joint venturer's joint venturers, a governmental authority's board or council members, and similar entities;

(11) “lease” means an oil and gas, or gas, lease issued by this state;

(12) “lessee” means a person that holds a working interest in an oil and gas, or gas, lease issued by this state;

(13) “license” means a license issued under this chapter;

(14) “licensee” means the holder of a license issued under this chapter and all affiliates, successors, assigns, and agents of the holder;

(15) “net present value” means the discounted value of a future stream of cash flow;

(16) “North Slope” means that part of the state that lies north of 68 degrees North latitude;

(17) “open season” means the process that complies with 18 C.F.R. Part 157, Subpart B (Open Seasons for Alaska Natural Gas Transportation Projects) or a similar process for soliciting commitments for pipeline capacity under the regulations, policies, rules, or precedent of the Regulatory Commission of Alaska;

(18) “point of production” has the meaning given in AS 43.55.900 as that section read on June 8, 2007;

(19) “project” means a natural gas pipeline project authorized under a license issued under this chapter;

(20) “proprietary,” when used to describe information, means that the information is treated by an applicant as confidential and the public disclosure of that information would adversely affect the competitive position of the applicant or materially diminish the commercial value of the information to the applicant;

(21) “recourse rates” means cost-based rates with a minimum and maximum range that are approved by the Federal Energy Regulatory Commission, the Regulatory Commission of Alaska, or the National Energy Board of Canada, as appropriate, and set out in the pipeline's tariff; “recourse rates” includes only those rates that the pipeline must make available to all shippers;

(22) “sanction” means to make financial commitments to go forward with the project as evidenced by entering into financial commitments of at least $1,000,000,000 with third parties;

(23) “trade secret” has the meaning given in AS 45.50.940;

(24) “under common control with” has the meaning given “control” in this section;

(25) “unit agreement” means an agreement executed by the working interest owners and royalty owners creating the unit.