Chinese companies join Alaska LNG project

Chinese companies join Alaska LNG projectImage courtesy of AGDC

The state-owned Alaska Gasline Development Corporation (AGDC) on Thursday said a number of Chinese companies have come onboard the planned $40 billion Alaska LNG export project.

AGDC said that, together with the State of Alaska, it has signed deals with China Petrochemical Corporation (Sinopec), CIC Capital Corporation (CIC Capital), and Bank of China (BOC) to advance the project.

The agreement was signed during the United States president Donald Trump’s visit to China.

Alaska LNG is designed as a 20 million tons per annum (MTPA) integrated LNG system comprised of a three-train liquefaction plant in Southcentral Alaska at Nikiski, an approximately 800 mile, 1.1 meter diameter gas pipeline, a gas treatment plant on the North Slope of Alaska and various interconnecting facilities to connect the Prudhoe Bay gas complex to the gas treatment plant.

Under the agreement, the parties have agreed to work cooperatively on LNG marketing, financing, investment model and China content in Alaska LNG, and get a periodic result by 2018.

“Today’s agreement brings the potential customer, lender, equity investor, and developer together with a common objective of crafting mutually beneficial agreements leading to increased LNG trade between Alaska and China,” said Keith Meyer, president, AGDC.

While Sinopec eyes LNG purchase on a stable basis from Alaska LNG, Bank of China and CIC Capital are looking to provide financial support for the project.

According to AGDC, the project is expected to start-up in 2023.

 

Share this article

Follow LNG World News

Events>

<< Jan 2018 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

Singapore Maritime Technology Conference and Exhibition (SMTC) 2018

The 3rd Singapore Maritime Technology Conference and Exhibition (SMTC) 2018…

read more >

CWC Japan LNG & Gas Summit

The inaugural CWC Japan LNG & Gas Summit, with participation and support from METI, JERA, Tokyo Gas and IEEJ, is the dedicated platform for international suppliers…

read more >

Asia Pacific Maritime and Offshore Exhibition 2018

7 years in the making, APM is the premier shipbuilding & marine, workboat and offshore exhibition in Asia…

read more >

CWC 2nd Papua New Guinea Petroleum & Energy Summit

The 2nd CWC Papua New Guinea Petroleum and Energy Summit is held under the patronage of the Prime Minister of Papua New Guinea…

read more >