After a decade of planning, the Alaska Gasline Development Corporation (AGDC) has reached a framework agreement with a private energy company to lead and fund the $44 billion Alaska LNG project. The AGDC will not disclose the company's name until a final agreement is reached, but they emphasize the company's extensive experience in natural gas and LNG development. The framework agreement, negotiated after eight months of discussions, paves the way for legally binding development agreements and the commencement of engineering and design updates. Officials express optimism about the project's progress, highlighting its potential to benefit Alaskans and contribute to global energy diversification.
The state corporation spearheading an effort to build a $44 billion natural gas pipeline between the North Slope and Nikiski says it is finalizing an agreement with a private company to lead the project.
“Today, after 10 years of planning, engineering and permitting, I'm announcing that AGDC has reached an exclusive framework agreement with a qualified energy company to privately lead and fund the development of the Alaska LNG project,” he said. “The terms of the framework agreement have been negotiated,” he said. “The next step is for both parties to create legally binding development agreements that will move the project forward.”
“The sooner that this project is underway, the sooner Alaskans benefit from our North Slope natural gas for the long term benefits,” he said.after Russia’s invasion of Ukraine sent some countries in Europe looking to diversify their energy sources. And Dunleavy has celebrated what he anticipates will be a more accommodating federal government once President-elect Donald Trump is sworn in later this month.
ENERGY PIPELINE ALASKA LNG DEVELOPMENT
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