State to Take Over Alaska LNG Project
Alaska Dispatch News reports that Alaska Gasline Development Corp. (AGDC) and the producer sponsors of the proposed Alaska LNG Project, ExxonMobil, ConocoPhillips and BP, “are working ‘cooperatively’ on a plan to turn over leadership of the project to Alaska,” according to Keith Meyer, president of AGDC. AGDC represents Alaska’s 25% interest in the project. Due to the global slump in oil and natural gas prices, the producers have recently indicated that they may not all continue with the project, which involves construction of a $55 billion liquefaction and export terminal and 800-mile pipeline to access North Slope gas supplies. According to the report, “the state and oil companies plan to sign a transition agreement in October, positioning the state to take over the project by the end of December.”