LNG

Alaska Gasline Development Corporation (AGDC), the state-owned company developing the Alaska LNG project, has signed additional agreements to underpin Chinese participation in the venture.

Alaska LNG, the project to export the state’s North Slope natural gas resources to Asia, has reached an agreement with BP of the UK and Alaska Gasline Development Corp. on feed-gas supplies, including price and volume.

Alaska Gasline Development Corp., the state body charged with the planning and construction of the Alaska LNG export project, said it had submitted its final responses to post-application data requests made by the US Federal Energy Regulatory Commission regarding the venture that has attracted huge interest from Asian buyers.

Alaska has named three members of the Alaska Gasline Development Corporation board, adding more expertise in liquefied natural gas before the corporation takes over control of the state’s planned LNG project.

Alaska Governor Bill Walker plans to visit South Korea and Singapore this month to tell Asian LNG buyers that the state is still open for business as a future producer, even as the major partners in the Alaska LNG joint venture have decided for now not to invest any more significant capital.

Energy majors ExxonMobil Corp. ConocoPhillips and BP of the UK have decided to stop further investment in the Alaska LNG project, control of which is already scheduled to be passed in December 2016 to the state’s Alaska Gasline Development Corp.

Alaska Governor Bill Walker has told the Joint Senate and House Resources Committee hearing on the status of the Alaska LNG project that there remains strong potential for an economically viable venture even with oil prices as low as $45 per barrel.

Alaska Governor Bill Walker has appointed a former BP executive as his chief advisor in energy projects, including the Alaska LNG venture with estimated costs of $45-$65 billion and the start of construction scheduled for around 2020.