The Alaska Industrial Development and Export Authority’s commitment could allow a pipeline developer to complete up to $50 million in engineering studies in hopes that an initial in-state gas line is built.
An Alaska development agency on Wednesday moved to provide a commitment of $50 million that will act like an insurance policy to allow the long-challenged Alaska LNG project to move ahead.
An oil and gas analyst this week predicted the project will be too costly to move to construction, which would require the state development agency to make the $50 million payment.from the Alaska Gasline Development Corp. on Wednesday said the decision brings the state agency closer to achieving a “privately funded in-state natural gas pipeline.”
Current plans call for construction to start in 2027, and gas could begin flowing to Alaskans as early as late 2030, he said. The full Alaska LNG project would require construction of the pipeline to Southcentral Alaska, and facilities to super-chill the gas into liquefied natural gas, or LNG, and load it onto tankers so it can be transported to utilities in Asia.
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