Today is the final day of the 27th World Gas Conference held in Washington D.C. Click here to find out what Alaska’s business partners think about small scale projects and the need for messaging to promote natural gas for the future.
US reliance on OPEC endures in spite of shale growth
Financial Times, Anjli Raval, June 29, 2018
Greg Abbott, governor of the state of Texas, hailed the US as an energy-independent country last week, saying on Twitter it would “NEVER AGAIN” be beholden to foreign oil producers. Yet the day before, Saudi Arabia — backed by Russia — pledged a “measurable” rise in output, largely in response to a request by the US to offset a loss in Iranian barrels after the re-imposition of oil sanctions. As the US tries to reset the Middle East, with the withdrawal from the nuclear deal with Iran a key element of its strategy, it is still turning to the energy might of traditional producers abroad. This reflects in part the limits of the US shale oil boom, and Washington is acutely aware of the domestic blowback should any move to cut Iran’s oil exports to zero result in higher petrol prices for American drivers.
Our Take: Let’s be realistic. The argument for American energy independence is founded on our current dependence on foreign oil.
Sen. Stedman Accepts Appointment to National Petroleum Council
Alaska Senate Majority, Press Release, June 28, 2018
Sen. Bert Stedman (R-Sitka) today announced he will serve on the National Petroleum Council (NPC) following his appointment to the board by the Secretary of the Department of Energy, Rick Perry. The NPC is an advisory board to the Secretary of Energy regarding oil and natural gas issues. Sen. Stedman’s role will be to represent the views of the state in public policy decision making. “Having served previously on the NPC in 2014 and 2015, I look forward to again representing Alaska’s unique position on oil and gas issues as the only true Arctic state in the U.S.,” Sen. Stedman said.
Our Take: AKHEADLAMP would like to congratulate Senator Stedman on his appointment. Alaska is lucky to have someone representing our unique and important position on potential development of oil and gas projects.
UPDATE 1-Alaska LNG preparing equity offering, open to joint venture
Reuters, Julie Gordon, June 28, 2018
Alaska Gasline Development Corp (AGDC) is preparing an equity offering for this summer and is open to partnering with a major energy firm on the development of its costly Alaska LNG export terminal and pipeline project, an executive said on Thursday. “We’re going to be putting forward an equity offering that we will hopefully take out onto the street this summer, to try and attract equity dollars,” AGDC Senior Vice President Frank Richards told Reuters at the World Gas Conference in Washington, D.C.
Our Take: This is big news! AKHEADLAMP assumes legislators were briefed on this prior to the announcement.