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Gold/Mining/Energy : Alaska Natural Gas Pipeline

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From: Snowshoe7/3/2014 5:10:27 AM
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The next pipe dream: export our gas to Asia...

Engineering studies to begin on Alaska LNG project

July 2, 2014

ConocoPhillips, BP, Exxon Mobil Corp. and other parties have signed an agreement to advance the state’s long-sought multibillion-dollar liquefied natural gas project.

The signing of the agreement will allow the parties to move toward a permitting phase and to conduct work that will be needed to apply for a license to export the North Slope’s massive natural gas reserves.

But the project remains a long way from reality. The new agreement will precede a second phase of work, expected to start in 2016, that will require another agreement and approval from the Legislature.

Production won’t begin until 2025 or 2026, said Dan Fauske, president of the Alaska Gasline Development Corp.

Still, the signing was important enough that Gov. Sean Parnell called it a “milestone” in a press release [2] sent Wednesday afternoon. The project is considered pivotal in an oil-dependent state that has seen crude production fall over the last quarter century.
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