NGI by Charlie Passut. Alaska and three Chinese companies have agreed to a six-month extension to negotiate and conclude definitive agreements for a liquefied natural gas (LNG) project in the state, despite an ongoing U.S.-Sino trade war.
The Alaska Gasline Development Corp. (AGDC), China’s state-owned Sinopec Group, the Bank of China and CIC Capital, a subsidiary of China Investment Corp., agreed to extend the deadline for an agreement until June 30.
The four parties (See Footnote) signed a joint development agreement (JDA) in November 2017 to develop the Alaska LNG project, which is estimated to cost $43.4 billion and as designed could export up to 20 million metric tons/year (mmty). A supplemental agreement was signed last September that continued negotiations to the end of 2018. AGDC has pledged to reserve 75% of the project’s LNG production capacity (15 mmty) for Sinopec.
“All of the parties realized that they needed a little more time to reach the final agreements,” AGDC spokesman Jesse Carlstrom told NGI. “They agreed to extend the deadline.” READ PASSUT’S FULL STORY HERE. – More here: Generate Alaska gives Chinese firms ….
(The “four parties” include Chinese government controlled officials along with temporarily employed Alaskan officials controlled by temporarily-elected politicians. -dh)
Our friend, Pedro van Meurs, invites readers to be updated on changing world fiscal systems!
Significant changes have occurred in world fiscal systems for oil and gas during the last three years. These changes will be reviewed during my well-known course World Fiscal Systems for Oil and Gas, which is scheduled to take place again this year in Singapore during the week March 11-14, 2019.
The course provides an overview of all fiscal terms and conditions for oil and gas licenses, leases, concessions, PSCs, risk service and profit-sharing contracts around the world, including detailed analysis of economic results and government take.
New fiscal systems, concepts or practices were introduced in many countries, such as in Brazil, Cameroon, Ecuador, India, Indonesia, Iraq, Ireland, Kazakhstan, Kenya, Lebanon, Mexico, Mozambique, Russia, Sao Tome & Principe, Thailand, the United Kingdom and United States. Nigeria has introduced a new Petroleum Industry Fiscal Bill.
The results of all these changes is a rather different international competitive framework for upstream operations. Our new worldwide investor attractiveness rating of more than 760 fiscal systems of 163 countries shows a very interesting shift in worldwide competition among countries for upstream investment. This will have a significant impact on where upstream capital is allocated.
I would be grateful if you could recommend participants for this course.
If you need any further information please contact us.
Pedro van Meurs
President, Van Meurs Corporation
Phone + 507 393 2467
TWITTER ACCOUNT: Northern Gas Pipelines@daveharbour