Alaska Gasline Development Corporation (AGDC) announced this Thursday that its proposed liquified natural gas (LNG) export project would help Asia tackle its carbon dioxide emissions. AGDC’s exports to that continent would help to shift power generators from coal to cleaner sources of power.
Firstly, the LNG state-owned developer conducted a study concluding that the overall greenhouse gas emissions from Alaska LNG natural gas would be 50% less than burning Chinese regional coal. Therefore, the company’s product would help reduce emissions by 77 million tons a year.
Moreover, the study came from energy and environmental experts from EXP, SLR Consulting, and ALG (Ashworth Leininger Group). They showed that the Alaska LNG project would have a lower GHG intensity than other LNG export projects on the U.S. Gulf Coast and Australia.
Particularly, the proposed project is a $38,7 billion project. It includes the development of a liquefaction facility on the Kenai Peninsula in southern Alaska; and a proposed 1,299-kilometer pipeline that would move gas currently stranded in northern Alaska across the state.
In addition, the company conducted the study after President Joe Biden told the Department of Energy to conduct a lifecycle analysis of GHG emissions in authorizations the agency made under the administration of former President Donald Trump.
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Alaska Gasline looking for development partners
Precisely, Alaska LNG is one of several North American LNG export projects that have for years been seeking customers to sign long-term contracts needed to finance the construction of their multi-billion-dollar project.
Consequently, the actual development of the facility would position Alaska Gasline in a leading position in the LNG market worldwide. Particularly in times of tight supplies and massive demand from Europe and Asia.
Furthermore, Frank Richards, president of Alaska Gasline, said. “When you look at the environmental benefits achieved by completing our project, it strengthens our position in the market.” He also said AGDC has already lined up parties to lead the pipeline and gas treatment plant; and is still looking for a party to lead the construction of the liquefaction plant.
Finally, according to Reuters, the help the project move forward, the U.S. Congress has included loan guarantees worth $26 billion for the Alaska LNG project in the latest infrastructure bill.
