Alaska and ExxonMobil Sign Agreement for Alaska LNG Supplies
Alaska Gasline Development Corporation, sponsor of the Alaska LNG Project, has announced that it has signed a Gas Sales Precedent Agreement with ExxonMobil Alaska Production Inc. (ExxonMobil) that covers certain key terms, including price and a volume basis, for a Gas Sales Agreement. According to the press release, the parties anticipate finalizing long-term gas sales agreements to purchase ExxonMobil’s share of 30 Tcf of gas from the Prudhoe Bay and Point Thomson units. ExxonMobil operates the Point Thomson field where the company has a 62.75 percent share. ExxonMobil also has a 36.4 percent share of the nearby Prudhoe Bay field – the largest oil and gas field in North America. The proposed Alaska LNG Project consists of an 800-mile pipeline, a liquefaction facility, and an LNG export terminal, among other things.