Alaska Gasline Development Corp. has released an updated $38.7 billion cost estimate for the Alaska LNG Project, which it believed would increase the project’s ability to deliver natural gas to Alaskans and LNG to export markets at competitive prices.
The US agency that helps the Federal Energy Regulatory Commission with the permit processing for export plants and pipelines has determined that the Alaska LNG liquefaction facility proposed for the eastern shore of Cook Inlet complies with siting requirements.
The US Federal Energy Regulatory Commission has pushed back the decision deadline on a request from Marathon Petroleum Corp. to convert the Kenai liquefied natural gas export plant in Alaska into an import terminal.
Marathon Petroleum Corp. has agreed to take over Andeavor in a $23-billion deal that would create a powerful US refining, marketing and midstream company with a huge presence in Permian Basin shale in the latest merger to coincide with rising oil prices.
Andeavor, the Texas-based energy and refining company, has acquired the Alaskan small Kenai liquefaction and export plant that was closed by previous owners ConocoPhillips in 2016 after shipping cargoes to Japan for more than 40 years.
ConocoPhillips intends to fully shut down its small-scale liquefaction and export plant located in Nikiski on the Kenai Peninsula because of low global LNG prices and the US major’s lack of progress in finding a suitable buyer for the plant.
The Alaskan company now in charge of the state’s liquefied natural gas export project said it was interested in buying the existing small-scale liquefaction and export plant on the Kenai Peninsula from ConocoPhillips.
ConocoPhillips said it was in the process of selling its Kenai liquefied natural gas plant in the state of Alaska, the first US liquefaction and export plant to come on stream in 1969 and which went on to export cargoes to Japan for 46 years.
ConocoPhillips Chief Executive Ryan Lance said US President-elect Donald Trump recognizes and appreciates that there is a revolution going on in the energy business in North America and elsewhere.