Alaska Gasline Development Corporation Takes Over LNG Project
The Alaska Gasline Development Corporation (AGDC) and affiliates of ExxonMobil, BP and ConocoPhillips have concluded agreements that will enhance AGDC’s ability to progress an Alaska liquefied natural gas export project to commercialize Alaska’s North Slope natural gas resources.
Under a Pre-FEED Joint Venture Agreement (JVA), the parties completed all of the Pre- FEED deliverables and the FERC draft environmental and socioeconomic resource reports. Upon conclusion of the Pre-FEED activities, the parties have spent more than $500 million on an Alaska LNG project. AGDC will now assume the responsibility for the technical and regulatory activities associated with the project.
This arrangement promotes the seamless continuation of the regulatory, commercial and optimization efforts. AGDC plans on completing the FERC pre-filing process, building upon the draft environmental and socioeconomic resource reports prepared by the parties during Pre-FEED.
The Alaska LNG Project proposed facilities include a liquefaction facility in the Nikiski area on the Kenai Peninsula, an 800-mile large diameter pipeline, up to eight compression stations, at least five take-off points for in-state gas delivery, a gas treatment plant located on the North Slope and transmission lines to transport gas from Prudhoe Bay and Point Thomson to the gas treatment plant. The project is designed to export up to 20 million metric tons of liquefied natural gas per year.
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