BP ExxonMobil Announce Investment In Alaska Gas Line Project

first_imgFacebook0TwitterEmailPrintFriendly分享The Alaska Gasline Development Corp. (AGDC) announced in March that it has signed an agreement with BP and ExxonMobil to collaborate on ways to advance the Alaska LNG project, and now have investment from the companies to back it. Under the terms of the agreement signed on March 8, the companies will seek to advance the project by working together to identify ways to improve the project’s competitiveness, and progress the Federal Energy Regulatory Commission (FERC) authorization to construct the project. A BP official says the company is optimistic the project’s cost can be reduced below $40 billion partially through lower product and service prices in recent years. Republican Lt. Gov. Kevin Meyer announced the investment Thursday at an oil and gas conference in Anchorage, stating that the investment by BP and ExxonMobil is intended to achieve a key federal permit next year. In a notice issued by FERC on February 28, they now plan to issue the draft EIS in June. The commission did not specify a date in June. The scheduled release date had been the end of February. If that process stays on schedule, the state could get the final federal go-ahead by 2020.center_img FERC extended the schedule for the Draft Environmental Impact Statement for the project by four months. The agency cited the state’s timeline for answering federal regulators’ questions and fulfilling data requests as the reason for the extension. In a release from the AGDC, “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.” The two Alaska oil producers announced on Thursday their intent to invest $20 million to advance the state’s $43 billion Alaska gas line project. The state’s gasline corporation will have about $23.5 million in the bank at the end of the current fiscal year. But according to AGDC spokesperson Jesse Carlstrom it will likely cost about $30 million to get through the environmental review with the FERC.last_img