AGDC Management and Operational Updates
At it’s June 20th meeting, the AGDC board heard operational, technical and regulatory updates.
- First third-party financial participation in Alaska LNG in 3 years. (BP and ExxonMobil)
- Draft Environmental Impact Statement (DEIS) anticipated June 28th
- AGDC underspending budget by 9% YTD
- $5m reduction in FY 19 contracted commitments
- 90-day public comment period July-September 2019
- FERC public meetings around state
- Final Environmental Impact Statement – March 2020
- Issuance of FERC Final Order – June 4, 2020
Our Take: Thumbs up to Governor Dunleavy for getting the project back-on-track with the private sector. The immediate reductions in spending, the focus on a commercially viable project and the commitment by the private sector to spend their money to get through the FERC process are great accomplishments.
EU leaders fail to agree on 2050 climate goal
Samuel Petrequin & Raf Casert, Associated Press, June 21, 2019
European Union leaders failed Thursday to back a plan to make the bloc’s economy carbon neutral by 2050 in spite of promises to protesters across the continent to fight harder against climate change. Ahead of a U.N. meeting in the fall, the proposal was relegated to a non-binding footnote in the final statement of Thursday’s summit of EU leaders in Brussels. “For a large majority of Member States, climate neutrality must be achieved by 2050,” the footnote read. However, for the change in approach to become an official target, all 28 EU countries need to back the change. The non-decision showed the rift between the western member states and the eastern nations on climate change. According to French president Emmanuel Macron and several other diplomatic sources, 24 countries including Britain, France and Germany supported the initiative, but were held back by Poland and three other nations which heavily depend on a fossil-fuel economy.
The Bureau of Land Management (BLM) Alaska State Office is issuing a call for nominations and comments on all available unleased tracts for the upcoming National Petroleum Reserve—Alaska (NPR-A) 2019 Oil and Gas Lease Sale.