San Antonio-based refining company Andeavor has acquired the Kenai liquefied natural gas (LNG) export facility in Alaska from the US energy giant ConocoPhillips.
The company formerly known as Tesoro said the LNG facility, opened in 1969, will be a natural extension of its Alaska operations.
“This acquisition further strengthens our integrated value chain by optimizing our operations in Kenai to provide low-cost fuel for our refinery,” Andeavor said.
Andeavor did not reveal the value of the deal.
To remind, ConocoPhillips put the export facility up for sale in November 2016.
The LNG plant last operated for six months during 2015, liquefying 20 Bcf of natural gas and delivering six LNG cargoes, while, due to the market conditions, ConocoPhillips did not conduct an export program in 2016 and 2017.
The Kenai LNG plant has shipped over 1,300 cargoes primarily to Japan.
LNG World News Staff