AGDC’s aggressive pursuit of commercial contracts throughout 2017 was rewarded over the past two months as significant agreements were signed with large LNG buyers and nancial institutions in China, Vietnam, and Japan.
This year, for the first time ever, we have been marketing Alaska LNG directly to potential buyers across the Asia- Pacific region. With the November 9, 2017, signing of the Joint Development Agreement (JDA) between AGDC, Sinopec, CIC Capital, and Bank of China, large LNG buyers in China, Korea, Japan, and others around the globe are quickly becoming aware of Alaska’s unique ability to deliver energy stability at competitive prices and with reliability and shipping advantages.
In addition to the JDA, Memorandums of Understanding (Korea Gas Corporation and PetroVietnam Gas), and public Letter of Intent (Tokyo Gas Co., Ltd.), we have signed seven confidential Letters of Intent with other large LNG buyers across the Asia-Pacific region.
Concurrently, we have been moving forward with project financing, in-state gas issues, and advancing Alaska LNG through the regulatory process.
On the regulatory front, we have asked federal officials to publish a schedule for Alaska LNG’s Environmental Impact Statement process immediately. As part of our ongoing communications efforts to keep Alaska’s lawmakers and citizens apprised of the current status of Alaska LNG’s commercial and regulatory progress, we have been issuing regular project updates through legislative reports, briefings, press conferences, and news releases.
Additionally, we published a 12-page newspaper insert, which is available on our website agdc.us. The insert explains the details of the Sinopec JDA in order to keep the public informed on our progress to bring Alaska’s vast, proven, natural gas resources to market.
We are ending the year on a high note, and though we still have a lot of work to do, I am energized by AGDC’s 2017 accomplishments. We are entering 2018 at full-speed ahead and will carry our momentum into the coming year in pursuit of definitive agreements and regulatory approval for Alaska LNG.
Keith Meyer, President