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Tokyo Gas signs LOI with Alaska Gasline on LNG purchase

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LNG Industry,


Reuters are reporting that Tokyo Gas Co Ltd announced on 5 December that it signed a letter of intent (LOI) with Alaska Gasline Development Corporation (AGDC) regarding the sale and purchase of LNG.

The move follows China’s biggest state oil company Sinopec, one of the country’s top banks and its sovereign wealth fund agreeing last month to develop the US$43 billion natural gas project in Alaska, as the cash-poor US state seeks to revive its dwindling energy industry.

Alaska LNG is designed to carry natural gas from fields in the North Slope through a 1287 km pipeline to south central Alaska for in-state use and to a liquefaction plant to produce up to 20 million tpy of LNG for export.

Tokyo Gas, which purchases about 14 million t of LNG a year, plans to talk with AGDC on details of the possible purchase of LNG, including volume and length, a company spokesman said, adding such an action reflects its efforts to widen its supply sources.

Alaska created AGDC in 2010 to build the project to tap the North Slope gas reserves, where production is expected to average about 3.5 billion ft3 per day, according to Alaska LNG’s website.

Read the article online at: https://www.lngindustry.com/liquefaction/06122017/tokyo-gas-signs-loi-with-alaska-gasline-on-lng-purchase/

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