Memorandum of Understanding

On September 21, AGDC announced a Memorandum of Understanding (MOU) with ConocoPhillips to negotiate the formation of a joint venture (JV) that will bring the buyers and sellers of gas together for Alaska LNG. This is a significant step forward in building support of the market for Alaska LNG under State leadership.

This MOU is part of AGDC’s broader plan to move the project towards completion. That plan includes key elements such as:

  • Securing customers for LNG or related service;
  • Advancing low-cost financing and investor options;
  • Structuring for federal and state tax efficiencies – including seeking a federal ruling on tax exempt status; and
  • Engaging engineering, procurement, and contracting companies with the ability to shoulder a significant part of the construction risk.