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AIDEA makes progress on Alaskan LNG project

LNG Industry,

The Alaska Industrial Development Export Authority (AIDEA) has made significant progress on the Interior Energy Project (IEP), which would involve the production, transportation and distribution of LNG from the North Slope of Alaska to end users in Fairbanks.

In its 2014 summer program update, NovaCopper Inc. informed shareholders of the progress being made by AIDEA. The aim of the IEP is to bring low-cost natural gas to as many Interior Alaskans as possible, over as short a time frame as possible.

On 14 January, AIDEA announced that it had selected a group headed by MWH Americas, Inc. (MWH) as the commercial participant to develop a North Slope LNG liquefaction plant that will produce LNG for delivery to the Fairbanks North Star Borough via trucking. Subsequently, on 3 April 2014, AIDEA announced that it had approved two sustainable energy transmission and supply development fund loans to advance natural gas distribution systems in Fairbanks.

MWH is currently finalising the costs of the IEP and expects to commence construction of the required infrastructure for the project with first delivery of trucked LNG to end users commencing before the end of 2016. NovaCopper expects to be a consumer of LNG from the IEP.

Adapted from press release by Katie Woodward

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