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Senate Finance Committee Advances Fairbanks LNG Trucking Project

JUNEAU – The much-anticipated proposal to truck liquefied natural gas from the North Slope to Fairbanks took a step forward today when the Senate Finance Committee approved Senate Bill 23.  The next stop for the bill will be a vote by the full Senate.

The bill will fund a project that includes a facility on the North Slope to liquefy the natural gas and store it for shipment by specialized tanker trucks to Fairbanks.   The project would fund construction of a storage facility in Fairbanks which would support a “build-out” of a distribution system throughout the city and surrounding areas. Funding would be through a combination of Alaska Industrial Development and Export Authority (AIDEA) bonds, general funds and natural gas storage credits.

“This is simply the single most important issue for Fairbanks this year,” said Senator Click Bishop, R-Fairbanks. “Bringing lower cost North Slope natural gas to rural Alaska and Fairbanks residents, utilities and businesses is my number one goal, so I was proud to vote to move the bill out of finance and on to the full Senate.”

“This is a critical move in getting gas to the Interior,” said Senator John Coghill, R-North Pole.  “This gets dollars from the State to lower delivery costs to us all.”

“I wanted to make sure we didn’t love this bill to death and end up talking about so much that we failed to move it to the floor,” said Senator Pete Kelly, R-Fairbanks.  “The bill is moving and more affordable energy for the Interior is one step closer to reality.”

The project is estimated to be on-line by mid-to-late 2015 and is expected to reduce the cost of heating in the Fairbanks area by about 40-percent for those who convert from fuel oil to natural gas. The bill will be referred to the Senate Rules committee to be scheduled for a floor vote.

For more information, please contact Senate Majority Press Secretary Carolyn Kuckertz at 907-465-3803.

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