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AIDEA Issues Report On Interior Energy Project

Determines 9Bcf North Slope LNG Plant Can Serve Initial Needs

(Anchorage) – Today, the Alaska Industrial Development and Export Authority (AIDEA) released its report on the feasibility of a proposed North Slope LNG plant. The proposed facility is part of the Interior Energy Project, which calls for natural gas to be liquefied on the North Slope and trucked to Fairbanks for regasification and distribution. The Interior Energy Project was initiated by Governor Sean Parnell with the goal of bringing North Slope natural gas to Alaskans. The Legislature advanced the project with the passage of SB23.  

AIDEA has determined that a 9 Bcf (billion cubic feet) per year LNG plant on the North Slope is technically and economically feasible for serving the initial Fairbanks North Star Borough heating demand. The plant is projected to successfully meet the community’s price targets, and reduce the annual heating cost for Borough residents and businesses: $14.09 - $17.09 per Mcf (thousand cubic feet) at the “burner tip,” which is the equivalent of $1.88 - $2.28 per gallon fuel oil.       

AIDEA will be conducting due diligence in the process of selecting private sector business partners. In addition to the selection of business partners, next steps include the development of the business structure and financial plan.

The Interior Energy Project Feasibility Report is available at http://www.interiorenergyproject.com/Resources%20and%20Documents/Feasibility_Report_72013.pdf

The Alaska Industrial Development and Export Authority is a public corporation of the state. AIDEA’s purpose is to promote, develop and advance the general prosperity and economic welfare of the people of Alaska.

 

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