Governor Bill Walker and members of his oil and gas team recently met with the US Ambassador in South Korea, as well as key government and company officials, to discuss potential offtake, investment and partnership opportunities in Alaska’s LNG project.
Governor Walker said: “Korea spends at least US$10 billion on LNG every year […] Alaska reinjects twice the amount of natural gas that the entire country of South Korea uses every day. That gives us an indication of the significant potential annual revenue for the state. Given Alaska’s deficit, it is imperative that we monetise our gas; it’s our number-one get-well card.
“Alaska’s location makes our project strategically advantageous to Korea, one of the world’s top LNG consumers […] We were able to confirm during our meetings that the Asian market will be looking for new sources to begin supplying LNG no later than 2023—which matches the Alaska LNG market delivery window.”
Alaska has a long established trade partnership with Korea, which is a top importer of fish, timber and coal from the Last Frontier.
Department of Natural Resources Commissioner, Andy Mack, said: “The mineral resources in Alaska are second to none […] A gasline will open up opportunities for explosive growth in the mining industry so we can unlock our mineral potential by making lower cost energy to those mines.”
Edited from press release by Callum O'Reilly
Read the article online at: https://www.lngindustry.com/regasification/28092016/alaska-officials-visit-south-korea-3108/