The Alaska Gasline & LNG LLC ("AGLNG") is a new company with the mission to assume leadership of the Alaska gasline and LNG project with the goal of having the gasline in-service to south-central Alaska by March 2028, with the LNG project to follow shortly thereafter. We will do this through a very focused development program, utilizing all tools at our disposal and with an emphasis on bringing gas to railbelt communities prior to a Cook Inlet gas shortage.
The broader vision is to utilize Alaska’s stranded natural gas to provide new export revenues, quality jobs for generations of Alaskans, and bring clean-burning natural gas to global markets seeking to reduce the environmental impacts of burning coal and oil.
The economics of the project makes it one of the most attractive growth engines for the State of Alaska, providing over $300 Million per year to State coffers, plus a direct injection of over $1 Billion annually into the State’s economy. Low-cost and reliable energy for generations, high-quality jobs, and predictable economics makes the Alaska LNG project a winner for Alaska.
The AGDC Board of Directors, by way of Resolution 2020-02 which passed unanimously at the April 9, 2020, board meeting, approved a strategic plan for AGDC to transition the project to the private sector.
Alaska Gasline & LNG LLC is in the best position to accept leadership of the project and move it forward to completion with an experienced management team, in-depth knowledge of the project, an exemplary board, and financial backing from a significant infrastructure investment firm.
Alaska Gasline & LNG LLC
The Alaska Gasline & LNG LLC (AGLNG) is a company with unique attributes and a mission ideally suited to lead the integrated Alaska LNG project:
• The Alaska gasline and LNG project will be AGLNG’s highest priority project, with no other LNG projects that would compete for the global LNG market.
• Financial backing from America's largest labor-owned investment management firm.
• A Board with in-depth knowledge of the project and the gas supply issues in Alaska, experience marketing Alaska LNG to the major global LNG markets, and an active presence in capital markets.
• A plan to prioritize and address the immediate needs of Alaska, recognizing the current gas supply situation in Alaska.
The Company has assembled an exemplary board comprised of Alaskan and industry professionals, who recognize the challenges of dealing in Alaska and the global LNG markets.
•Admiral Tom Barrett, Longest serving president Alyeska Pipeline Service Company, Coast Guard Vice Commandant, first Administrator of the US Pipeline and Hazardous Materials Safety Administration, Deputy Secretary of the United States Department of Transportation.
•Albert Bolea,Former President of BP Pipelines Alaska, distinguished Visiting Professor of Leadership University of Alaska, founder of Applied Leadership Seminars, CEO/GM of a large independent oil company in the UAE, former AGDC board member.
•Brian Hale,President and Chief Operating Officer for Ullico Inc. He is a member of the senior management team for Ullico Inc., the Ullico Infrastructure Fund (UIF) Investment Committee and a trustee on the Ullico Benefits Committee.
•Georgianna Lincoln, American politician and businesswoman born in Fairbanks; first Alaska Native elected to State Senate, served legislature 14 years. Retired Chair, Doyon Ltd. Board after 47 year’s service; Alaska Women’s Hall of Fame; Alaska Commission on Judicial Conduct.
•Joey Merrick, Alaska Petroleum Joint Crafts Council President; Business Manager/Secretary-Treasurer of Alaska District Council of Laborers.
•Lou Serafini Jr., President and CEO of Fengate, a $35 Billion asset value, leading alternative investment manager focused on infrastructure, private equity and real estate strategies.
•Fmr. Gov. Bill Walker, Alaska born and raised, served as 11thGovernor State of Alaska, Harvard Fellow, private practice attorney, former Mayor of Valdez and Laborer/Carpenter Trans-Alaska pipeline.
The Alaska Gasline and LNG project is a large-scale, integrated gas treatment, pipeline, and LNG production system which will allow the vast, conventional, proven, stranded gas resource on Alaska’s North Slope to be brought to local markets in Alaska and to global LNG markets. Anchored by the Prudhoe Bay field – North America’s largest oil and gas field – and the Point Thomson reservoir, the project has a proven conventional gas source for the first 40 years of project life. Alaska’s North Slope is a “super basin” with additional undeveloped gas resource for at least 100 years of supply.
The project will be the only practical link between the vast resource of the Alaska North Slope super-basin and the growing global LNG markets. Alaska is the closest and most direct North American supply to Asia, providing the project with a sustainable competitive advantage.
All major permits have now been received, and the project is ready to move forward to completion.
Alaska finds itself with an imminent gas supply issue; supply from Cook Inlet is dwindling, new drilling in Cook Inlet will take many years to produce results. It is time to put everything on the table and address Alaska’s gas needs. With limited resources but abundant determination, we can succeed.
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