Alaska Governor inaugurates LNG project

The Governor of Alaska, Sean Parnell, has taken steps to inaugurate the state in the Alaska LNG Project. Parnell has plans to make TransCanada Corp. a financial partner in the LNG terminal project.

A Heads of Agreement (HOA) was signed by all parties involved, rendering the project in the pre-FEED phrase. A spokesperson for BP said that the agreement “integrates the resources of all parties behind this potential Alaska project. It sets our guiding principles for the parties to negotiate project-enabling contracts once the Alaska Legislature passes the enabling legislation.”

The legislation includes the foundation of a subsidiary of the public Alaska Gasline Development Corp. who will own shares worth 20 - 25% in the LNG plant, to be located at Nikkisi, near Kenai.

The Alaska LNG project is anticipated to have a production capacity of around 18 million tpa, which will be shipped to Asian markets. Where demand for LNG is rapidly growing. Gas will be sourced from the North Slope.

Edited from various sources by Ted Monroe

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