LNG

UK major BP confirmed its commitment to completing the sale of its Alaska business to Hilcorp Energy of the US for the original price of $5.6 billion despite the industry downturn, including the North Slope feed gas resources for the Alaska LNG export project and Prudhoe Bay oil.

Alaska Gasline Development Corp. the developer of the Alaska LNG project, has scheduled a board meeting in Anchorage for May 22 when future key decisions on the venture will be discussed and cost-reduction and other reports considered.