Alaska LNG – China Agreement At A Glance

  • Signed November 9, 2017 at the Great Hall of the People in Beijing, China.
  • In the presence of President Trump, AGDC President Keith Meyer, and Alaska Governor Bill Walker signed a Joint Development Agreement (JDA) with:
    • China Petrochemical Corporation (Sinopec).
    • CIC Capital Corporation.
    • Bank of China.
  • The JDA provides for the entities to work together in the preparatory work of Alaska LNG.
  • The JDA addresses the following:
    • 75% of the capital cost of the project would come from non-Alaska sources.
    • AGDC maintains majority ownership of the project.
    • AGDC retains 25% of Alaska LNG’s 20 MTPA to serve the broader LNG markets in the Asia-Pacific Region, while the remaining 75% goes to China.
    • Provides a timeline and framework for negotiating definitive agreements by the end of 2018, with construction to commence in 2019.
    • Parties will collaborate on all aspects of the project including project engineering, financing, construction and offtake of LNG.
    • AGDC will continue to lead project development activities.