AK LNG

AK LNG

The Alaska LNG Project has been stalled for years, but the Alaska Gasline Development Corporation is hoping a new, lower cost estimate will make it more competitive.

The corporation released the revised cost estimate during a board meeting on Thursday. The new estimate sits at $38.7 billion, about $5.5 billion less than the previous estimate, which was done in 2015. The new estimate was put together by AGDC with BP, ExxonMobil, and Fluor Corporation, a consulting company with experience in LNG.

AK LNG

Since the state announced Nikiski as the chosen site for its liquefied natural gas plant project about six years ago, Kenai Peninsula residents have had an ear to the ground for developments. The project would use an 807-mile pipeline from the North Slope to deliver natural gas to a plant in Nikiski, where it would be liquefied and shipped out to international markets, all for a price tag of about $45 billion.

Since 2017, the state has been heading up the project alone through the Alaska Gasline Development Corporation. The project partners, including ConocoPhillips, BP and ExxonMobil, shied away from it after a number of international LNG plants came online, pushing down prices and making Alaska’s project too expensive to be competitive. But the state has pressed on, gathering permits and information. On Thursday, the Federal Energy Regulatory Commission gave the state the green light to build and operate the project.

Now it’s just a matter of how to pay for it. This is the last year the state is going to go it alone —it’s either find other sponsors or sponsors or sell the assets.

ECON 919 - Feds get latest AK LNG paperwork

Oct 4, 2019

 

The public comment period for a draft environmental impact statement on the AK LNG project closed this week, but not before the Mat-Su borough filed yet another motion asking federal regulators to again review the possibility of locating the terminus of the cross-state natural gas line at Port MacKenzie.

 

 


Draft EIS gets hearing in Nikiski

Sep 6, 2019

A public hearing is coming up on Wednesday in Nikiski that is vital to the proposed Alaska LNG project.
    The Draft Environmental Impact Statement is ready for review, and Wednesday’s meeting is one of eight being held in Alaska next (this) week.
    Public testimony on the draft EIS can be made at the public meeting, online, or via mail.

AGDC chief explains drawdown

Jul 26, 2019

 

By this time next year, the Alaska Gasline Development Corporation may itself have run out of gas. With no additional funding from the legislature, the group it put together a decade ago to try and get a gas line built from the North Slope is quickly shedding workers and preparing to back away from that effort.

 

 


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