The state entity has signed a deal to supply North Slope gas for a planned pipeline. But the project still faces a number of hurdles.
The Trans-Alaska Pipeline runs alongside the Dalton Highway near the Toolik Field Station on June 9, 2017, in the North Slope Borough. A proposed gas pipeline would follow much of the oil pipeline’s route.
AGDC President Frank Richards says the $10.7 billion in-state line could stave off the worst of a looming natural gas shortage for the Railbelt and even reduce energy prices from their current levels in the longer term. But there’s a long way to go, and some are skeptical, like former federal gasline coordinator and newspaper publisher Larry Persily.
With its new approach targeting an in-state line first, Richards says AGDC is looking to reduce the risk for export customers who have been reluctant to invest. Instead, Richards says AGDC is looking for commitments from Alaska utilities to buy about 75 billion cubic feet of gas per year, roughly the total gas demand for the entire Railbelt this year.
“The economics of the project look extremely positive, and a project that should be able to advance quite quickly,” Galvin said by phone.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Alaska North Slope oil industry employee dies in workplace incidentThe MagTec Alaska employee died at the Milne Point oil field, the third workplace fatality in the North Slope oil industry in 13 months.
Read more »
Shell abandons North Slope oil leases, raising questions about the industry’s future in AlaskaAs the world pivots toward lower-carbon energy sources, experts say some of the state’s hard-to-tap oil prospects are becoming less attractive.
Read more »
Shell abandons North Slope oil leases, raising questions about the industry’s future in AlaskaAs the world pivots toward lower-carbon energy sources in response to global warming, experts say some of the state’s hard-to-tap oil prospects are becoming less attractive.
Read more »
Shell abandons North Slope oil leases, raising questions about the industry’s future in AlaskaAs the world pivots toward lower-carbon energy sources, experts say some of the state’s hard-to-tap oil prospects are becoming less attractive.
Read more »
South Korea to suspend military deal with North Korea after tensions over North's balloonsSouth Korea's government has approved the suspension of a contentious military agreement with North Korea, a step that would allow it to take tougher responses to North Korean provocations.
Read more »
South Korea is suspending a military deal with North Korea after tensions over North's balloonsSouth Korea’s government has approved the suspension of a contentious military agreement with North Korea, a step that would allow it to take tougher responses to North Korean provocations.
Read more »