Headlamp – Sanctions for North Korea supporters.

Sanctions slapped on companies supporting North Korea oil and gas. As tensions rise over North Korea, the U.S. Treasury this morning said it was slapping new sanctions on Chinese and Russian entities conducting oil, coal and banking business with Pyongyang, and propping up the country’s weapons program. The sanctions target 16 Chinese and Russian individuals and companies, with the bulk targeting Chinese entities which have been buying and selling oil and coal with North Korea, or offering related banking services to facilitate these transactions. “The Treasury will continue to increase pressure on North Korea by targeting those who support the advancement of nuclear and ballistic missile programs, and isolating them from the American financial system,” said Treasury Secretary Steven T. Mnuchin.

 Gasping for air. In spite of low prices and unprecedented competition in the gas/LNG industry, Alaska’s government subsidized North Slope gas monetization project continues to tread water, shall we say, “gasping for air.” It seems to be awaiting a life-saving miracle as it responds to regulatory questions, keeps staff and contractors employed and manages ‘marketing’ offices in Tokyo and Houston. The September 1 deadline established by Governor Walker for a go/no-go decision on the project looms large. Headlamp hopes that decisions, such as the IRS determination, are valued properly and any decisions to progress the project are based on sound economics.

Can’t get enough LNG? Both the Alaska Gasline Development Corporation and Larry Persily are doing weekly LNG updates. You can sign up for AGDC’s updates here and you can receive Persily by emailing him here.

Juneau Assembly weighs in on climate change. The Juneau Assembly voted to affirm its commitment to climate action on Monday — but not without a fight. “We need to continue to understand and predict what is coming – what might be coming – and how climate will change over the next century, which is vital to our economy and to our community,” said University of Alaska Southeast Professor Jim Powell, a former Juneau Assemblyman.

First Reads:

U.S. Sanctions Chinese, Russian Companies Aiding N. Korea
OilPrice.com, Damir Kaletovic, August 22, 2017

Alaska’s Government Gas Pipeline/LNG Project Still Treads Water
Northern Gas Pipelines, Dave Harbour, August 21, 2017

Juneau Assembly reaffirms commitment to climate goals
KTOO Public Media, Jacob Resneck, August 21, 2017