Alaska Gasline Development Corporation (AGDC), the State of Alaska, China Petrochemical Corporation, CIC Capital Corporation, and Bank of China, announced an agreement to advance Alaska LNG, Alaska’s strategic gas infrastructure project.
The agreement was signed in the presence of United States President Donald Trump and China President Xi Jinping, and expresses the common interests in the preparatory work of Alaska LNG, AGDC said in a statement.
According to the agreement, the parties will cooperate on LNG marketing, financing, investment model and China content in Alaska LNG, and get a periodic result by 2018.
Alaska LNG, a 20 million tonnes per annum integrated LNG system consists of a three train liquefaction plant in Southcentral Alaska at Nikiski, an approximately 800 mile, 1.1 meter diameter gas pipeline, a gas treatment plant on the North Slope of Alaska, and interconnecting facilities to connect the Prudhoe Bay gas complex to the gas treatment plant.
“Today’s agreement brings the potential customer, lender, equity investor, and developer together with a common objective of crafting mutually beneficial agreements leading to increased LNG trade between Alaska and China,” said Keith Meyer, president, AGDC.
This agreement will boost Alaska’s economy, something that can lead in results similar to those of the Trans-Alaska Pipeline System in the 1970s, highlighted Governor Bill Walker, State of Alaska.
