"It's like the Big Dipper," the Alaska Republican said in an interview with the Journal. "All the stars are in place, but we don't have the North Star yet. This is a fleeting opportunity, but not a certainty."

Nor is a natural gas pipeline from the North Slope to the Lower 48. "If we can find the right incentives, it will happen," Stevens said. He said the problem is compounded by opposition from the natural gas industry to one approach involving a tax on marginal fields.

He said some sort of price guarantee, most likely at about $3.25 per thousand cubic feet of gas, will be needed to convince lenders to invest in the huge project. "There has to be some mechanism to assure the people who loan $20 billion for the project that their bonds will be paid," Stevens said.

There is also concern that once the pipeline begins delivering gas, the huge new volume will drive down prices in the Midwest, where it is slated for delivery. Stevens said that an increase in demand between now and completion of the pipeline will alleviate the concern over price -- although he must combat the fear that prices will drop.

Stevens pointed out that one of the major owners of North Slope gas, ExxonMobil Corp., is against any incentives for a gas line. "Exxon says the gas will move when the markets are right," he said.

One argument Stevens will be making as he pushes for the gas line and especially for ANWR is national security. "We need to work at building a coalition that understands that energy security is the key to national security," he said.

The senator is also worried about energy security closer to home. Over the holiday recess, he was briefed by Cook Inlet gas company executives who warned him that unless major new discoveries are made, Anchorage will begin to run out of natural gas by 2010.

"A priority has to be to find a way to get a spur to Anchorage of the gas line when it comes to Fairbanks," Stevens said. "We have to find a solution. Otherwise, Anchorage will go back to burning coal by 2010."

Military projects

Meantime, Stevens continues to press for funding of projects that keep Alaska a key part of the nation's defense infrastructure. The most recent Military Construction Bill contained over $300 million for military projects in Alaska, while the Defense Appropriations Bill contained $157 million more.

Stevens said a plan to station the new B-17 transport planes in Alaska will result in significant new expenditures in the state.

But 2003 will also be a year when Alaska's bases are scrutinized for possible closure, in a process called base realignment. "I have every reason to believe our bases will survive again, but you never know," Stevens said. "We must be vigilant."

Stevens said the national missile defense system, currently under construction at Fort Greely, may expand to Kodiak for some tests. He said full-blown construction of a new radar at Shemya Island is not expected until 2003 or 2006, although site preparation there is already under way.

Fisheries

Sen. Stevens' biggest concern involving Alaska fisheries is the slide in salmon prices, under siege from a glut of farmed salmon from overseas. He's becoming convinced that the key to helping salmon fishermen is with better marketing and the elimination of middlemen in the sales process.

"Alaska salmon is the best substance for your health in the world," Stevens said. "We've got to find a way to deal with the individual consumer. We have an abundant supply of fish. The question is, how do we get it to the consumer -- straight to the retailer."

Stevens has included $20 million in the Department of Commerce budget to market Alaska seafood worldwide.

Transportation

Sen. Stevens said his role in transportation this year will be to support Rep. Don Young, R-Alaska, who is chairman of the House Transportation Committee. "It will be a good partnership to have," Stevens said. "We need to proceed on the Knik Arm bridge as soon as possible."

In the meantime, $5 million has been allocated for ferry service between Anchorage and the Matanuska-Susitna area.

He said he would continue to fund projects at the Anchorage airport named for him. "One of 10 people with a job in (the Anchorage) area are related in some way to the airport," Stevens said.

A nearly-completed railroad depot at the airport is one of several projects for the Alaska Railroad Corp. Stevens has championed. Another is a multi-year plan to straighten the tracks between Anchorage and Wasilla.

The Denali Commission

One of Stevens' top priorities is the Denali Commission, which was created to manage funds for projects in rural Alaska. It received nearly $100 million in funding this year, but Stevens hopes to dramatically increase that amount in the future.

At the end of the last session of Congress, Stevens and then-Sen. Frank Murkowski introduced a measure that would provide $440 million to the commission to fund transportation projects in rural Alaska. "We don't have a federal program to fund local roads," Stevens said. "We're looking to find a way."

Stevens said projects that provide access to transportation and to resource development would be given a priority under the measure.

Looking ahead

Stevens, 79, was re-elected to his sixth term in November. He shows no sign of slowing down. "I feel as healthy as ever," Stevens said. "I played two sets of tennis this morning, and my doctor lets me drink one glass of wine a day.

"I love that doctor."