Yesterday, Keith Meyer, President of the Alaska Gasline Development Corporation (AGDC) provided a report to the corporation’s Board of Directors.
Key Messages from the report:
- Pre- FEED (front end engineering and design) is over 90% complete and deliverables are anticipated by mid-September
- The parties are working together on commercial options to improve the project’s ability to compete in a global LNG market
- The parties are working together to transition the project to State leadership
- The transition to an AGDC-led Alaska LNG project is underway with a target to begin by the end of October with completion by the end of the year. AGDC will be responsible for managing the project going forward:
- Applying for regulatory approval
- Securing the commercial commitments from gas sellers, shippers and buyers
- Acquiring the equity and debt financing required to complete the project
- Preparing to start FEED
AGDC has funding through FY 2017 and is considering a request for supplemental funding.
Senator Cathy Giessel, chair of Senate Resources, will be holding a joint hearing with House Resources on August 24th and 25th, beginning at 1pm, to review the new concept plan for a state-led pipeline project.