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link to report (with memorandum by Governor Mike Dunleavy)

ALASKA GASLINE DEVELOPMENT CORP. AND PANTHEON RESOURCES PLC SIGN GAS SALES PRECEDENT AGREEMENT

ANCHORAGE, AK (June 4) – Pantheon Resources plc (AIM: PANR) ("Pantheon" or "the Company"), owner of 100% working interest in the Kodiak and Ahpun oil and gas fields, and the Alaska Gasline Development Corporation ("AGDC"), a state-owned entity leading the development of the Alaska LNG Project ("Alaska LNG"), are pleased to announce that Pantheon's wholly owned subsidiary, Great Bear Pantheon LLC, has entered into a Gas Sales Precedent Agreement ("GSPA") with AGDC subsidiary 8 Star Alaska LLC.

BIDEN ADMINISTRATION FORCEFULLY SUPPORTS ALASKA LNG AUTHORIZATION

ANCHORAGE, AK (March 18) – The Biden Administration forcefully supported the export authorization for the Alaska LNG Project, the only FERC- and DOE-authorized U.S. LNG export project with direct Pacific access, in a March 15 U.S. Department of Justice (DOJ) brief on behalf of the U.S. Department of Energy (DOE). Alaska LNG is unaffected by the Biden Administration’s LNG export authorization freeze announced on January 26, 2024.

LNG Industry - Shockwaves from Russia’s invasion of Ukraine propelled the Alaska LNG project to the forefront of new LNG developments

Article https://agdc.us/wp-content/uploads/2023/07/LNG-Industry-Advancing-Alaska-LNG.pdf

FOR IMMEDIATE RELEASE
FRIDAY, APRIL 14, 2023

https://agdc.us/wp-content/uploads/2023/04/Final-DOE-Amended-Order.pdf

https://agdc.us/wp-content/uploads/2023/01/Final-SEIS-Release.pdf

https://agdc.us/wp-content/uploads/2022/12/2022-12-30-Hydrogen-Update-Release-Final.pdf

RealClearEnergy.com Op-Ed – Alaska’s Map to Clean Hydrogen Leadership
By Mike Dunleavy, December 21, 2022

https://www.realclearenergy.org/articles/2022/12/21/alaskas_map_to_clean_hydrogen_leadership_871348.html

Report attributed to Poten & Partners.

https://agdc.us/wp-content/uploads/2022/12/LNGWM-Alaska-LNG-Report.pdf

Article excerpt attributed to Natural Gas World and its Gas in Transition magazine.

https://agdc.us/wp-content/uploads/2022/12/Pages-53-55-from-GIT_Issue-11_November-2022-2.pdf

https://agdc.us/wp-content/uploads/2022/11/Hydrogen-Hub-Application-Announcement-Final.pdf

• Joint Statement
  • Statement by U.S. Ambassador to Japan Rahm Emanuel on the Alaska LNG Summit
  • Sen. Dan Sullivan Reacts to AK LNG Summit in Tokyo

https://agdc.us/wp-content/uploads/2022/10/2022-10-04-Ammonia-Assessment-Release.pdf

https://www.peninsulaclarion.com/news/murkowski-sullivan-throw-support-behind-alaska-lng-project/

https://www.kinyradio.com/news/news-of-the-north/sens-sullivan-murkowski-urge-us-department-of-energy-on-aklng-project/

https://www.murkowski.senate.gov/press/release/murkowski-sullivan-urge-energy-department-to-complete-without-delay-draft-seis-for-aklng-project

https://agdc.us/wp-content/uploads/2022/07/LNG-Industry-Magazine-Alaska-LNG-June-2022.pdf

Assessment Accelerates Momentum for Only Permitted West Coast LNG Project

FOR IMMEDIATE RELEASE
Wednesday, June 29, 2022

ANCHORAGE, AK (June 29) – A new report, published ahead of schedule by the Biden Administration, documents the significant benefits of the Alaska LNG Project.

The report, “Alaska LNG Project Draft Supplemental Environmental Impact Statement” (SEIS), published by the U.S. Department of Energy (DOE), examines the effects of Alaska LNG and its conclusions validate previous federal authorizations for the project. The new report also documents that ample quantities of North Slope natural gas exist to support Alaska LNG and identifies important socioeconomic benefits resulting from Alaska LNG.

Alaska Gasline Development Corporation President Frank Richards said, “With this report, the Biden Administration confirms that Alaska LNG can deliver environmental benefits globally and provide environmental and socioeconomic benefits for Alaskans. As the world turns away from Russian energy, LNG investors, developers, and customers are all searching for reliable, low-emissions energy sources. Alaska LNG, the only permitted LNG project on the West Coast, is poised to safely deliver to allies across the Pacific and enable other U.S. LNG projects to strengthen service to European nations in need.”

DOE notes two distinct environmental advantages Alaska LNG has over competing LNG projects. Alaska LNG’s shorter shipping routes to Asia produce fewer emissions. The “shortest distance between the Gulf Coast and China is 140% longer than the route from Alaska to China.” Alaska natural gas generates fewer emissions than gas produced elsewhere because it is produced alongside oil. Gas and oil produced independent of each other generate higher overall emissions. About 75% of North Slope gas is “associated gas” versus only about 40% of Gulf Coast gas.

The report notes the critical role natural gas will play in meeting global emissions reductions: “[N]atural gas is projected to continue to be a significant source of energy around the world, and for electricity generation, it is likely to be paired with carbon capture technology to help countries meet decarbonization goals…” and “[C]oal is currently the largest source of energy for many Asian countries, these countries are trying to move away from coal to be able to meet their climate goals.”

DOE confirms there is more than enough identified North Slope natural gas to support Alaska LNG over the project’s lifespan without requiring development of new fields. The report determined that 41.1 trillion cubic feet of natural gas is readily available on the North Slope, exceeding the volume required by Alaska LNG for in-state and export use. Enough natural gas is produced on Alaska’s North Slope each day to meet the daily energy needs of California, Oregon, and Washington. Today however this gas is reinjected into the ground because there is no present infrastructure to deliver it to market.

DOE reports that important socioeconomic benefits from Alaska LNG will occur, including increased employment opportunities, wage increases, and state and local government tax revenues generated from increased materials purchases, payroll expenditures, and property and other taxes.

The DOE draft SEIS findings, published on June 24, confirm the conclusions of the comprehensive 2020 Federal Energy Regulatory Commission Environmental Impact Statement. Together, the two reports span 6,000 pages and seven years of cooperation between all major federal agencies.

The draft SEIS, previously scheduled to be published on July 1, is available online: https://www.energy.gov/nepa/articles/doeeis-0512-s1-draft-supplemental-environmental-impact-statement-june-24-2022. The DOE is scheduled to publish a final EIS on November 14, 2022, and a record of decision on February 13, 2023.

Click here to download a PDF of the full Press Release.

For Immediate Release 22-179

June 4, 2022 (Anchorage) – Alaska Governor Mike Dunleavy yesterday concluded a trade mission to Japan. The Governor met with Japanese companies, utilities, and government ministries about procuring Alaska’s natural gas while also assessing the state’s potential to export various new sources of fuel. Governor Dunleavy’s meeting comes at a time when Japan is pivoting towards an energy transition that Alaska can supply in the coming decades, including blue and green hydrogen, at a time of great geopolitical instability.

"Alaska and Japan have a trade partnership going back over fifty years to the first LNG export from Nikiski to Japan," said Governor Dunleavy. "The natural gas of the Cook Inlet literally turned the lights on in cities across Japan and powered the economic engine that lifted that nation’s postwar society into a critically powerful western ally. There appears to be, due to the shift across the world away from older fuel sources, and the simultaneous need for supplies that are not risked due to political instability, a role that Alaska natural gas could play. Alaska can supply Japan with another fifty of natural gas and clean hydrogen for decades to come."

Governor Dunleavy’s journey came on the heels of the inaugural Alaska Sustainable Energy Conference, which showcased the multifaceted ways the state can produce various sources of fuel for both the state, and the world, in an environmentally safe manner. The Governor conducted the trip along with the First Lady, Rose Dunleavy, and members of the Alaska Gasline Development Corporation, marked the Governor’s second foreign trip during his administration; the Governor’s first was also to Japan in 2019, marking the 50th anniversary of the first LNG shipment from Nikiski to Tokyo.

For four days, Governor Dunleavy and the Alaska delegation held meetings with representatives of JERA, the Japanese Ministry of Economy, Trade, and Industry (METI), the Japan Oil, Gas and Metals National Corporation (JOGMEC), the Japan Bank for International Cooperation (JBIC), along with Tokyo Gas and TOYO Engineering. Meetings were also held with the Mitsubishi Corporation, the Chiyoda Corporation, well as INPEX and Mitsui O.S.K.Lines, Ltd.

Media Contact: Shannon Mason, Deputy Press Secretary, shannon.mason@alaska.gov, (907) 310-7697

As Biden looks to increase natural gas, Alaska is poised to step forward
Linda F. Hersey, P. A1
Fairbanks Daily News-Miner, March 27, 2022

Alaska’s plans for a $38 billion liquefied natural gas project have gained new momentum with President Biden’s pledge last week to increase European exports to replace Russian fossil fuels.

“Global developments have created a sense of urgency for new projects like Alaska LNG,” said Tim Fitzpatrick, spokesperson for the Alaska Gasline Development Corp.

“Europe has depended on Russia for 40% of its natural gas, and Russia’s invasion of Ukraine created a sudden global energy crisis, as our allies seek energy from the U.S. and other non-adversarial nations,” Fitzpatrick said.

America is the world’s largest exporter of liquefied natural gas (LNG), but existing U.S. production is inadequate to meet new demands by Europe. Alaska’s LNG could help to change that. Alaska’s LNG project would provide cleaner-burning natural gas from the North Slope for domestic use and a rapidly expanding global market, supporters say. Alaskans also would benefit from in-state use.

The state-owned Alaska Gasline Development Corp. projects that North Slope fields can deliver an average of 3.5 billion cubic feet of gas daily, with much of the supply for an international market.

“That is the estimate for our project,” Fitzpatrick said. “The volume of the North Slope is even greater than that.”

Lower development costs for the LNG project may lower the cost of fuel from previous estimates. "Alaska LNG is expected to deliver LNG for approximately $6.70 per MMBtu (one million British thermal units), below the expected price from Gulf Coast projects targeting the same Asian markets," Fitzpatrick said in an email to the News-Miner.

For gas customers in the Interior and Southcentral, Fitzpatrick estimated Alaska LNG could be delivered for less than $5 per per MMBtu.

Driving the price down are projected lower construction costs for the project and a new finance structure, among other factors, he said.

Supporters say that Alaska LNG can play a role in replacing coal and oil in Asia and Europe as the United States and other nations transition to more use of renewable energy and clean technologies. It also can have a role in moving Europe away from Russian fossil fuels.

“The U.S. has no LNG export facilities on the West Coast, a critical energy infrastructure vulnerability, and all LNG is exported from the Gulf of Mexico or the East coast,” Fitzpatrick said in an interview with the News-Miner. “Bringing Alaska LNG online will enable the U.S. to effectively serve allies in both Asia and Europe.”

Russia is China’s second-largest oil supplier and third-largest gas supplier. Biden said this week that China realizes its economic future is with the West. Biden also warned China against siding with Russia in its attack on Ukraine.

Fully permitted LNG project

Currently, there is no natural gas pipeline to move North Slope gas to market. Gas produced on the North Slope is re-injected to maintain pressure in oil reservoirs.

The long-planned Alaska LNG project is now fully permitted for an 800-mile gas pipeline at an estimated cost of $12.7 billion.

Fitzpatrick said permitting was “an arduous process that took many years and hundreds of millions of dollars in engineering and environmental design.”

Plans for the project call for a $9 billion North Slope gas treatment plant with a liquefaction facility and export terminal in Nikiski to condense the gas for shipment.

An 80% federal loan guarantee included in the newly adopted Infrastructure and Jobs Act that Sen. Lisa Murkowski helped lead through Congress eases the risks for developers.

Fitzpatrick described the Alaska LNG project as one of the most important energy developments planned in the United States. The project, which would support 10,000 Alaska jobs, will take approximately six years to complete. An energy analyst recently lowered the estimated construction cost for the project by $7 billion from an original estimate of $45 billion.

Fitzpatrick said that the Alaska Gasline Development Corp. is quickly working to form a team of infrastructure developers in the private sector to lead the construction and operation of Alaska LNG.

Backed by $26 billion in federal loan guarantees, Fitzpatrick said the Alaska LNG project is both “economically viable and competitive.”

Asked whether Alaska LNG developers will be fossil fuel companies, Fitzpatrick said that large-scale, complex energy projects are most often financed and developed by a “consortium of well-capitalized parties with worldwide experience.”

“AGDC is in discussions with infrastructure developers and owners that build and operate projects like Alaska LNG,” Fitzpatrick said.

Meeting long-term natural gas needs

The Alaska LNG project will meet long-term energy goals that President Biden outlined in Brussels last week.

The U.S. just formed a joint task force with the European Commission with the goal to help European nations reduce dependence on Russian gas. Biden pledged to work with domestic and global partners to make sure that the European Union has the natural gas it needs for next winter.

Natural gas supplies are projected to increase in the U.S., Europe and Asia to meet demand through at least 2040.

“Meeting growing Asian LNG demand with Alaska’s natural gas will enable U.S. Gulf Coast LNG suppliers to focus on serving our European allies,” Fitzpatrick said. “Bringing Alaska LNG online will enable the U.S. to effectively serve allies in both Asia and Europe.”

Prior to Russia’s invasion of Ukraine, Sen. Dan Sullivan released a plan that focused on expanding domestic gas production, including in Alaska, as the U.S. developed its clean energy portfolio.

America leads the world in the decline of carbon emissions since 2005, powered by a greater reliance on natural gas.

Carbon Brief, which covers energy policy, reports that the drop in U.S. CO2 is driven by coal-to-gas switching in the power sector, as well as wind generation, among other factors.

Sullivan called for promoting natural gas exports with China, India and other major polluters that heavily rely on coal. China produces more than a quarter of global carbon emissions, with 60% of its power generated by coal.

Court challenge over Alaska LNG

In 2022, the Alaska LNG project is nearly ready to go. Organizers are working to resolve legal challenges in federal court.

The Sierra Club and Northern Alaska Environmental Center in Fairbanks questioned the U.S. Energy Department’s approval of an environmental impact statement that did not fully examine carbon dioxide emissions.

A supplemental life cycle review was ordered to estimate the project’s impact starting from North Slope extraction and production to consumption by export customers. That work is expected to be done by December.

An initial study by the Alaska Gasline Development Corp. concluded that an Alaska LNG project would have significantly fewer emissions for gas exports than Gulf Coast LNG projects, which have longer shipping routes.

Natural gas on the North Slope would be drawn from existing wells in the Prudhoe Bay and Point Thompson fields, which is less intensive and produces fewer emissions than drilling shale gas wells in the Lower 48.

“Here we sit in Alaska, with the largest stranded conventional gas field in North America. No new wells need to be drilled because we re-inject more gas — that comes out with the oil — back into the ground on the North Slope every day than is consumed in California, Oregon and Washington combined,” Joey Merrick II, a former board member of the Alaska Gasline Development Corp., wrote in an editorial about Alaska’s natural gas resources.

Increase in demand for natural gas is not expected to ease anytime soon. Even before Russia’s invasion, energy analyst Wood Mackenzie forecasted that global demand for natural gas will double through at least 2040, widening a gap between what’s available and demand by consumers.

“Alaska’s LNG supply is the equivalent of about 30% of Japan’s LNG imports or 45% of South Korea’s imports,” Fitzpatrick said. “Meeting growing Asian LNG demand with Alaska’s natural gas will enable U.S. Gulf Coast LNG suppliers to focus on serving our European allies.”

Click here to view or download a PDF of the article.

Contact Linda F. Hersey at 907-459-7575 or at lhersey@ newsminer.com. Follow her at twitter.com/FDNMpolitics.

The Hill: America's National Security Solution -- Energy
An Op-Ed by Alaska Governor Dunleavy
The Hill, March 3, 2022

Alaska is the answer to a number of critical national security questions in our nation’s history. For example, during World War II, the 1,800-mile Alaska highway was built in just eight months to pry open military access to the North Pacific theater. In 1973, the OPEC oil embargo drove up the price of gasoline more than 40 percent; Congress quickly authorized the Trans-Alaska Pipeline and Alaska went on to start producing 20 percent of the nation’s oil.

Energy security equals national security and now Russia’s invasion of Ukraine threatens the world’s energy supply. Europe draws 40 percent of its natural gas from Russia, perhaps why Russia chose to invade in the dead of winter.

And although the U.S. recently became the world’s largest exporter of liquefied natural gas (LNG), serving allies across both the Atlantic and Pacific, our supply is still stretched thin. Today we have limited ability to meet additional European energy needs if the Russian spigot closes. A recent Wall Street Journal report notes “Given that U.S. LNG cargoes have Asian customers, where supply is also tight, there isn’t infinite wiggle room.”

Enter Alaska. Alaska is sitting on one of the world’s largest reservoirs of natural gas but lacks the infrastructure to deliver it to U.S. allies around the world. Every day on the North Slope, enough natural gas is produced to meet the needs of California, Oregon and Washington combined, but it is reinjected into the ground because there is no way to get it to market. Delivering Alaska’s natural gas to Japan, Korea, and other allied Asian markets along the Pacific Rim frees U.S. Gulf Coast LNG providers to focus capacity on our European allies.

Fortunately, there is a lot of recent progress on the Alaska LNG Project to report. A just-completed analysis by Wood Mackenzie concludes that, for the first time, Alaska LNG can deliver LNG to Asia at more competitive prices than LNG from the Gulf Coast. Wood Mackenzie studied improvements made to Alaska LNG over the past five years and determined that Alaska LNG has been able to reduce our cost of supply to Asia by 43 percent.

Wood Mackenzie forecasts that global LNG demand will continue to accelerate through 2050, strengthening the need for new projects like Alaska LNG. Alaska LNG is fully permitted and the state corporation leading development of the project is working with private sector parties to lead and complete the development of its main infrastructure components.

The recent federal infrastructure legislation, passed with bipartisan congressional support and signed by President Biden, includes more than $26 billion in federal loan guarantees for Alaska LNG. Utilizing these loan guarantees will further improve its cost-effectiveness. I applaud our lawmakers for deploying our natural resources for strategic, economic, and even climate reasons.

Natural gas burns cleanly, making it a preferred energy source, particularly in rapidly growing Asian markets confronting air pollution created by other energy sources. Here at home, we see the same air quality problems in parts of Alaska winter after winter. Because of these problems, the American Lung Association identified Fairbanks, Alaska as “The Most Polluted City in the Nation.”

Because energy projects compete on both economic and environmental measures, Alaska LNG commissioned a study to understand the project’s climate impacts. Third-party experts determined that replacing a portion of Asia’s coal use with equivalent energy from Alaska LNG will eliminate 77 million metric tons of annual carbon dioxide equivalent emissions, a 50 percent reduction.

According to the EPA’s Greenhouse Gas Equivalencies Calculator, 77 million metric tons of carbon emissions is the annual equivalent of taking 19 coal-fired power plants offline or removing 16.8 million passenger cars from the road for a year.

Alaska has some of the most stringent environmental regulations in the world, assuring that natural gas will be produced with minimal impacts on wildlife, air, and water versus other parts of the world with looser standards and limited enforcement. Each LNG tanker round trip from Alaska will be about a month shorter than from Gulf Coast ports, further contributing to Alaska LNG’s emissions and economic savings.

Natural gas is a key ingredient for hydrogen production, and the increasing global demand for zero-carbon hydrogen is also fueling progress for Alaska LNG. U.S. policymakers and the private sector are investing tens of billions of dollars over the next few years to drive the creation of new U.S. hydrogen production hubs and carbon capture hubs. Alaska is well situated to compete due to our vast supply of conventional, non-fracked natural gas, unique geologic formations well suited for carbon capture, and established in-state energy industry and environmental oversight.

Vladimir Putin’s unprovoked aggression in Europe will have broad energy and security repercussions well beyond Ukraine’s borders. With Alaska LNG under development, Alaska is ready to keep the U.S. well-positioned as a reliable provider of strategic clean energy for our allies for the next hundred years.

Click here to view the online article.

Elected in 2017, Michael J. Dunleavy is the 12th governor of Alaska. He previously served as a teacher, school board member, and state senator in Alaska.

Independent Analysis Confirms 43% Cost Reduction Positions
Alaska LNG Ahead of U.S. Gulf Coast LNG Providers

ANCHORAGE, AK (Jan. 31) – Today the Alaska Gasline Development Corporation (AGDC)
released a new report by the respected global research firm Wood Mackenzie concluding
that project improvements have enabled Alaska LNG to reduce the cost of supply by 43%,
which competitively positions Alaska LNG ahead of U.S. Gulf Coast LNG projects. The
report, “Alaska LNG Competitiveness Analysis,” is available online at AGDC.us.

During the past five years AGDC obtained Federal project authorization, reduced project
construction costs by 12%, and implemented a new project finance structure utilizing
third-party tolling. Wood Mackenzie calculates that these changes, along with a reduction
in the expected natural gas purchase cost, reduce Alaska LNG’s cost of supply to Asia to
$6.70 per Metric Million British Thermal Unit (MMBtu), a 43% reduction, while delivering a
market-rate return. This new potential cost of supply falls below the expected price from
Gulf Coast projects targeting the same Asian markets.

Alaska Governor Mike Dunleavy said, “Alaska LNG holds tremendous economic
development and environmental promise. Natural gas will be a reliable and responsible
energy keystone for decades to come, and Alaska LNG is well positioned for success. We are
closer now, more than ever, to realizing the decades-old dream of bringing our natural gas
off the North Slope for the benefit of Alaskans and worldwide markets.”

AGDC President Frank Richards added, “As our work continues to transition Alaska LNG to
a privately led project team, this economic analysis demonstrates that Alaska LNG can
deliver LNG at competitive prices. This report comes on the heels of the recent climate
study that determined Alaska LNG will reduce Greenhouse Gas Emissions by 77 million
metric tons of carbon, a fifty percent reduction for a typical coal energy supply chain, and
adds further momentum to our progress.”

Wood Mackenzie forecasts that LNG demand growth remains robust beyond 2050, driving
LNG prices higher. The report cites expected Japanese spot prices of $8 per unit, above
Alaska LNG’s cost of supply. LNG demand will outstrip available supply within six years,
strengthening the need for new projects like Alaska LNG, according to the firm.

Wood Mackenzie’s analysis identifies opportunities for further Alaska LNG cost reductions,
including the $26 billion Alaska LNG federal loan guarantee included in the infrastructure
legislation signed into law in November 2021, and implementing tax reforms that bring
Alaska in line with other U.S. jurisdictions.

Alaska LNG sponsors commissioned a similar Wood Mackenzie analysis in 2016 which
concluded that Alaska LNG required changes like those listed in the new report to become
competitive.

Click here to download a PDF of the full Press Release.

Click here to download a PDF of the Report Summary.

Click here to download a PDF of the full Report.

The Alaska Gasline Development Corporation (AGDC) is an independent, public corporation of
the State of Alaska charged with maximizing the benefit of Alaska’s North Slope natural gas
though the development of infrastructure to deliver gas to local and international markets.
More information about the Alaska LNG Project can be found at Alaska-LNG.com. More
information about AGDC is available at AGDC.us.

77 Million Metric Tons of Carbon Eliminated Annually with Alaska Natural Gas

ANCHORAGE, AK (Oct. 7) – In a new report, the Alaska Gasline Development Corporation (AGDC) detailed the significant environmental and climate benefits achieved by developing the Alaska LNG Project, which will utilize North Slope natural gas to replace high-emissions coal in heavily polluted Asian markets and substantially reduce global greenhouse gas emissions.

Alaska Governor Mike Dunleavy said, “Alaska has some of the world’s strictest environmental laws, and Alaska natural gas should be a key component of any realistic energy roadmap to a cleaner climate. This report documents the substantial climate benefits that clean-burning Alaska natural gas has for our environment here at home and around the world.”

AGDC President Frank Richards added, “The world is increasingly focused on the climate impact of new high-volume, reliable energy projects. This timely assessment uses respected and transparent methodologies to quantify the value of replacing high-emissions energy sources in foreign markets with low-emissions Alaska LNG. The justification for Alaska LNG is compelling.”

The report, Greenhouse Gas Lifecycle Assessment: Alaska LNG Project, documents how Alaska LNG reduces annual carbon dioxide equivalent emissions generated by a representative Asian regional coal supply chain by 77 million metric tons, a 50% reduction.

According to data from the U.S. Environmental Protection Agency, eliminating 77 million metric tons of carbon emissions is the annual equivalent of taking 19 coal-fired power plants offline or 16.8 million passenger cars off the road for a year, or eliminating the emissions generated by powering 9.3 million homes or the emissions from burning 8.7 billion gallons of gasoline.

The report also compares Alaska LNG emissions to equivalent LNG projects in Louisiana and Australia that have undergone similar lifecycle analyses, and documents that the production and delivery of Alaska LNG provides 50% lower greenhouse gas intensity compared to these projects.

Alaska LNG’s relative emissions efficiencies reflect Alaska’s close proximity to target Asian markets, which reduce round-trip shipping times by about a month, efficiencies resulting from shared facilities for North Slope oil production, the utilization of a single pipeline and compressor system, and fewer gathering and boosting emissions required by the North Slope’s compact production footprint.

The report uses the same methodologies and standards employed by the U.S. Department of Energy’s National Energy Technology Lab, and addresses the full range of project components, including extraction, production, gathering and boosting, transmission pipeline, end-user pipeline transmission, and power generation and distribution.

The report was produced on behalf of AGDC by a specialized team of independent third-party air quality, environmental, and energy experts from EXP, SLR Consulting, and ALG (Ashworth Leininger Group). The report was published today as part of AGDC’s October board meeting and is available at [https://agdc.us/wp-content/uploads/2021/10/Greenhouse-Gas-Lifecycle-Assessment_Alaska-LNG-Project.pdf].

Click here to download a PDF of the full Press Release.

The Alaska Gasline Development Corporation (AGDC) is an independent, public corporation of the State of Alaska charged with maximizing the benefit of Alaska’s North Slope natural gas though the development of infrastructure to deliver gas to local and international markets. More information about the Alaska LNG Project can be found at Alaska-LNG.com. More information about AGDC is available at AGDC.us.

$5.5 Billion (12.4%) Cost Reduction Enhances Ability to Deliver Competitively Priced LNG

ANCHORAGE, AK (June 25) – Today the Alaska Gasline Development Corp. (AGDC) released an updated $38.7 billion cost estimate for the Alaska LNG Project, which will increase the project’s ability to deliver natural gas to Alaskans and LNG to export markets at competitive prices. The updated cost estimate was presented during today’s AGDC board meeting.

The updated estimate reflects a $5.5 billion (12.4%) cost reduction off the previous $44.2 billion cost estimate, which was compiled in 2015 by the project’s previous joint venture leaders, which included BP Alaska, ExxonMobil Alaska, ConocoPhillips and AGDC. The new estimate will enhance the competitive price of LNG from the Alaska  LNG Project versus similar projects vying to serve major Asian markets. Long-term LNG demand is forecast to exceed available supply as consumers seek the environmental benefits of LNG over other energy sources.

The $38.7 billion estimate announced today was established during a rigorous, fourteen-month process incorporating significant third-party natural gas and LNG industry expertise. Along with AGDC staff, participants included representatives from BP, ExxonMobil, and Fluor Corporation, an international engineering, procurement, construction, and maintenance company.

Alaska LNG Project cost reductions capitalize on technology and process improvements developed in the LNG industry over the past several years, reflecting maturation of the LNG industry. These improvements include advancements in gas liquefaction technology and modular construction techniques, lower engineering costs, and a streamlined project management team. The cost estimate validates the efficiency of the Alaska LNG project’s design and major components, including a North Slope gas treatment plant, an 800-mile pipeline, and a Nikiski, AK-    based LNG plant.

AGDC President Frank Richards said, “These updates improve the competitive position of the Alaska LNG Project and its ability to deliver LNG and natural gas at favorable prices. We are incorporating these results into our discussions with potential partners as we work to transition to a new market-led project team and maximize project benefits for the State of Alaska. While today’s results strengthen the case for developing this project, it will ultimately be the market that determines the best path forward.”

AGDC obtained federal authorization to construct and operate the Alaska LNG project on May 21, 2020.

Click here to download a PDF of the full Press Release.

The Alaska Gasline Development Corporation (AGDC) is an independent, public corporation of the State of Alaska charged with maximizing the benefit of Alaska’s North Slope natural gas though the development of infrastructure to deliver gas to local and international markets. More information about Alaska LNG and the project permitting process can be found at Alaska-LNG.com. More information about AGDC is available at AGDC.us.

The Alaska Gasline Development Corporation (AGDC) issued the following statement regarding today’s Federal Energy Regulatory Commission (FERC) authorization to construct and
operate the Alaska LNG Project.

Alaska Governor Mike Dunleavy said, “Today’s federal authorization is a key step in determining if Alaska LNG is competitive and economically beneficial for Alaska. I commend the AGDC team for their diligence. The ongoing project economic review and discussions with potential partners will determine the next steps for this project.”

Alaska’s Congressional Delegation, Sen. Lisa Murkowski, Sen. Dan Sullivan and Rep. Don Young, added, “We commend the continued work by both FERC and AGDC to advance the Alaska LNG project to this key point. The certificate issued today by FERC is the culmination of years of work and will be a major asset for both investment in Alaska and our nation’s long-term energy security. Development of our vast natural gas resources will further expand North Slope opportunities and could be a game-changer for our state economy.”

AGDC President Frank Richards said, “FERC’s authorization validates that the Alaska LNG Project can be safely built and operated, delivering numerous potential benefits with manageable environmental impacts. This approval, a major milestone in the development of the project, signifies the completion of a rigorous and comprehensive evaluation that has engaged environmental and energy experts at dozens of federal and state regulatory agencies.

“Obtaining FERC approval significantly de-risks the project execution with defined environmental stipulations. Our momentum continues as we complete our assessment of the project’s economics and competitiveness, and engage with potential project partners to determine the best path forward for the Alaska LNG Project.

“The Alaska LNG Project presents an opportunity to unlock significant benefits from Alaska’s stranded North Slope natural gas, including a new reliable and affordable clean energy source, the creation of a substantial number of high-paying construction and operations jobs for Alaskans, and long-term U.S. energy security.

“A special thank you to Governor Mike Dunleavy, our Congressional Delegation, the Alaska Legislature, and BP Alaska and ExxonMobil, who have provided instrumental support, expertise, and funding to advance our progress.”

The Alaska LNG Project consists of a Gas Treatment Plant on Alaska’s North Slope, an 800-mile pipeline, and an LNG facility in Nikiski, Alaska. Today’s FERC announcement culminates six years of public input, engineering, science-based environmental research, and cultural resource studies incorporating more than 150,000 pages of environmental, engineering, and cultural data.

Click here to download a PDF of the full Press Release.

The Alaska Gasline Development Corporation (AGDC) is an independent, public corporation of the State of Alaska charged with maximizing the benefit of Alaska’s North Slope natural gas though the development of infrastructure to deliver gas to local and international markets. More information about Alaska LNG and the project permitting process can be found at Alaska-LNG.com. More information about AGDC is available at AGDC.us.

Today the U.S. Department of Transportation, Pipeline and Hazardous Materials Safety Administration (PHMSA), granted the Alaska Gasline Development Corporation a Special Permit for Pipe-in-Pipe. As requested by PHMSA, a copy of the permit along with the Special Permit Analysis and Findings were transmitted to the Federal Energy Regulatory Commission.

Today the Federal Energy Regulatory Commission (FERC) published the final Environmental Impact Statement (EIS) for the Alaska LNG project. The EIS analyzes the project’s environmental impacts and associated mitigation measures. The EIS is a mandatory step towards gaining the principal federal approval, or final order, required to construct and operate the project. FERC is scheduled to issue the final order for Alaska LNG in June 2020.

Alaska Governor Mike Dunleavy stated, “The final EIS is a milestone in the Alaska LNG permitting process – a process still with significant hurdles. I appreciate the diligence of the AGDC team throughout this process. We look forward to reviewing the EIS and receiving the record of decision from FERC, at which point we will evaluate our next steps. FERC licensure is an important component in determining if Alaska LNG, which must be led by private enterprise, is competitive and economically advantageous for development.”

“This EIS represents substantial progress in the approval process for Alaska LNG,” said AGDC President Frank Richards. “The EIS reflects six years of public input, engineering, science-based environmental research, and cultural resource studies. The EIS assesses more than 150,000 pages of data and makes Alaska LNG one of the most scrutinized energy infrastructure projects in Alaska. Such a rigorous, comprehensive environmental analysis provides assurance that the merits and impacts of Alaska LNG have been carefully vetted by numerous federal regulatory authorities.

“ExxonMobil and BP have contributed valuable expertise and financial assistance which helped make this accomplishment possible. Both organizations continue to provide critical support in the effort to progress Alaska LNG.

“In the coming days we will review the conclusions in the EIS, examine any differences with the draft EIS published last year, and use these conclusions to help inform decisions about the next steps for Alaska LNG.”

More information about Alaska LNG, the EIS, and the permitting process for the project can be found at Alaska-LNG.com.

Click here to download a PDF of the full Press Release.

Today the Alaska Gasline Development Corporation (AGDC) Board of Directors named Frank Richards as the new AGDC president, effective March 1, 2020.

Richards succeeds Joe Dubler, whose retirement was announced during last week’s AGDC board meeting. Dubler will provide transition support to Richards over the next 60 days to ensure continued successful execution of AGDC’s work on the Alaska LNG project.

AGDC Board Chairman Doug Smith said, “AGDC is fortunate to have someone of Frank’s caliber who is deeply familiar with Alaska LNG ready to take the helm. The Board thanks Joe for his service and leadership. Under Joe, Frank, and the AGDC team we have made tremendous strides towards realizing Alaska’s natural gas potential, and I’m confident that progress will continue as Alaska LNG advances through the permitting process.”

Richards currently serves as AGDC senior vice president of program management, responsible for the development and execution of the Alaska LNG project. A registered professional engineer, Richards joined AGDC in April 2012. He has contributed to the development of numerous large-scale infrastructure projects across Alaska, including the Red Dog Mine, the Bradley Lake hydroelectric project, and offshore North Slope oilfield development projects. He previously served as deputy federal coordinator for Alaska natural gas transportation projects and holds a Bachelor of Science in civil engineering from the University of Maine.

Dubler has served as AGDC president since January 2019 and held other senior AGDC leadership positions between 2010 and 2016, including serving as vice president of commercial operations and chief financial officer.

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Alaska Gasline Development Corporation (AGDC) Interim President Joe Dubler issued the following comment after publication of the Federal Energy Regulatory Commission (FERC) draft Environmental Impact Statement (EIS) for the proposed Alaska LNG project:

“Alaska LNG holds the potential for significant environmental, energy, economic, and employment benefits for Alaskans. Publication of the draft Environmental Impact Statement represents substantial progress toward obtaining the authorization required to build and operate this project.

“We will now begin to thoroughly examine this comprehensive document to understand the commission’s recommendations. The ongoing permitting process incorporates 150,000 pages of data and should give Alaskans confidence that the project’s merits and impacts are being rigorously scrutinized.”

The draft EIS may be viewed and downloaded from FERC’s website (https://www.ferc.gov/industries/gas/enviro/eis/2019/06-28-19-DEIS.asp).

Click here to download a PDF of the full statement.

The Alaska Gasline Development Corporation (AGDC) has signed an agreement with BP and ExxonMobil to collaborate on ways to advance the Alaska LNG project by working together to identify ways to improve the project’s competitiveness, and progress the Federal Energy Regulatory Commission authorization to construct the project.

AGDC Interim President Joe Dubler said, “Our respective organizations share an interest in the successful commercialization of Alaska’s stranded North Slope natural gas. BP and ExxonMobil possess world-class LNG expertise which may help AGDC responsibly advance this project with maximum efficiency for the benefit of Alaskans, and I welcome their collaboration.”

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At today’s regularly scheduled Alaska Gasline Development Corporation (AGDC) Board of Directors’ meeting, the board elected new leadership, selecting Doug Smith as board chair, Dan Coffey as vice chair, and Warren Christian as secretary and treasurer.

The board also named Joe Dubler as interim president, effective immediately. Mr. Dubler held senior AGDC leadership positions between 2010 and 2016, including serving as vice president of commercial operations and chief financial officer. Most recently, Mr. Dubler has served as executive vice president of finance and administration for Cook Inlet Housing Authority and will begin his new position on a full-time basis in mid-February after a transition period.

Mr. Dubler replaces outgoing AGDC President Keith Meyer.

AGDC Board Chair Doug Smith said, “Joe has the right experience to advance AGDC’s mission of commercializing Alaska’s vast but stranded North Slope gas supply for the benefit of all Alaskans, including access to affordable, cleaner, reliable energy and new revenue to fuel Alaska’s future.”

Click here to download a PDF of the full press release.