The Journal reported that buyers in Japan and South Korea aren’t confident in the project, and don’t plan to make investments or sign contracts.
The Alaska Liquefied Natural Gas project has long promised to bring North Slope natural gas to Nikiski, for export to Asia. Optimism about the project among Alaska politicians has remained high, despite the long timeline and cost of the project. But last month, the
And so we started this project kind of very neutrally looking at sort of the trade offs that are involved in the project. The positives, of course, being this is a project that could help with energy security, and help Korea and Japan transition away from using Russian gas and oil. So that was kind of the positive energy security angle. Of course, on the other end, we were looking at climate issues.
Of course, it’s a massive project, a massive investment. So those were just factors that they’re considering. It’s really important to companies here, that if they do indeed sign up for a contract to offhand gas, that a project moves forward, because they will give up other contracts elsewhere. So that security element I think, was a large kind of off putting factor for them.Did these buyers have other options when it comes to getting natural gas on the timeline they’re looking for?They do.
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