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Bering Straits Native Corp. completes Port Clarence economic feasibility analysis

(Anchorage, Alaska)- Bering Straits Native Corporation (BSNC) completed an economic feasibility analysis of Port Clarence, a natural deep-water port located on the Bering Strait near the 50-mile-wide expanse between Russia and Alaska. The analysis was completed by economic and engineering consultants familiar with arctic maritime needs, and determined that development of Port Clarence would be economically feasible if development occurred in conjunction with development of Alaska’s Outer Continental Shelf. The study determined that port development can be viably achieved with private investment and that Port Clarence would be an ideal staging area for oil and gas exploration in the Chukchi and Beaufort Seas.

BSNC determined that a basic deep-water port and man-camp at Port Clarence could be operational within four years of oil and gas industry decision to pursue resource development of Alaska’s Outer Continental Shelf. Development of Port Clarence would occur with minimal dredging, minor marine disturbance, little impact to subsistence harvests, and no required maintenance dredging. Furthermore, to support the report’s concept of private development, BSNC has been approached by numerous private entities interested in partnering in financing development of Port Clarence.

“The growing potential of the arctic is a high priority for us,” said BSNC President & CEO Gail Schubert. “I believe that in addition to supporting oil and gas industry needs, Port Clarence is going to positively contribute to sustainable economic growth in the BSNC region.”

BSNC management is pursuing title to Point Spencer. BSNC selected land on Point Spencer, commonly called Port Clarence, in 1976 for conveyance under the Alaska Native Claims Settlement Act should the lands become available. Point Spencer was traditionally used by local residents and served as the venue for an annually occurring indigenous, inter-continental, trade fair.

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BSNC is an Alaska Native Corporation that was established by the Alaska Native Claims Settlement Act of 1971. It is owned by more than 7,100 Alaska Native shareholders and actively pursues responsible development of resources and other business opportunities. Through its subsidiaries, BSNC serves the federal government and commercial customers throughout the Bering Strait region, Alaska, the United States and the world.

Visit www.beringstraits.com.

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