AFTERNOON NEWS ALERT: Through a Letter of Understanding signed today, the Department of Natural Resources, ExxonMobil, and BP agreed to terms to better align the settlement with the Alaska LNG Project. The agreement effectively stays the year-end 2019 deadline as long as the project continues to progress. The extension will end when the Alaska LNG Project reaches final investment decision, or when DNR notifies the parties that the project is no longer progressing. If the extension ends, the companies will have 30 months to reach final investment decision on either of two development options at Point Thomson, or else lose acreage.

Photos from the signing ceremonies on Monday at the Atwood Building in Anchorage for the Gas Sales Precedent Agreement with ExxonMobil, and the Point Thomson Letter Agreement. (Nameplates are visible in pictures, but titles are: Governor Bill Walker, Attorney General Jahna Lindemuth, DNR Commissioner Andy Mack, ExxonMobil Alaska Production Manager Darlene Gates, AGDC Board Vice President Hugh Short, AGDC Vice President of Commercial and Economics Lieza Wilcox, and BP Vice President of Commercial Ventures Damian Bilbao.)  LINK:               Point Thomson Unit Letter Agreement


Suzanne Downing, Courtesy, Must Read Alaska

Must Read Alaska Newsletter – Patriot Day In US But Not Alaska!

by

Suzanne Downing

This year it’s Patriot Day all over America on Monday. Just not in the 49th State.

Governor Bill Walker. Northern Gas Pipelines photo by Dave Harbour

Gov. Walker has declared it “September 11 Commemoration Day,” a day where “we as Americans reflect on the importance to our nation of freedom, tolerance, patriotism, diversity, and respect for others, and are grateful for the rights and freedoms that we hold as Americans;”

During a deployment ceremony on Friday, Sen. Dan Sullivan spoke to the troops in the most heartfelt terms:

“There was nothing — and I mean nothing — that was going to keep me away from attending this deployment ceremony of the 425.

“I am so proud of this unit. Each one of you has done what less than 1 percent of all Americans do, and that is raise your right hand voluntarily to support and defend the Constitution and protect your fellow Americans, and we cannot thank you enough.”

U.S. Senator Dan Sullivan, NGP stock photo by Dave Harbour
“Sullivan to address GOP Convention”

Sen. Sullivan had been full-time Marine before returning to Alaska and was in the Marine Reserves when the nation was attacked on 9-11. He returned to Washington D.C. to work at the White House on national security issues.

For Sen. Sullivan’s service, as well as the service of hundreds of thousands of other Americans, our Governor is recognizing them by watering down the importance of Patriot Day with a new, politically correct name.

Read Downing’s full commentary HERE….


Also from Must Read Alaska:

JUNEAU’S BIZARRE PROTEST AGAINST OIL

See Our Supportive 2015 SEATTLE commentary here.  -dh

Mining the irony: At the Juneau protest against climate change, Must Read Alaska observes that every protester is wearing coal-and-oil high-tech clothing, and carrying an electronic device made from minerals mined in a third-world nation and covered by an oil-produced, non recyclable plastic.

Next year, we hope to see them all in locally sourced wool and hemp. Just to keep the narrative “on point.”


Links Courtesy of Larry Persily:

Fitch says LNG developers may need to put up more equity  (Fitch Ratings; Sept. 4) – Growing demand from Asia, particularly China, could swing the liquefied natural gas market into a deficit by 2022-2025, Fitch Ratings said. Market expectations of oversupply and weak prices have curtailed new investment in the sector the past two years. Limited new capacity beyond 2020 should boost spot-market prices in the short term, especially in Asia and Europe, the global ratings agency said in Sept. 4 report. This will benefit LNG projects with significant uncontracted volumes to sell.

“An unprecedented wave of new projects becoming operational in 2016-2019 has not resulted in — and is unlikely to result in — a material surplus in the LNG market in the medium term,” Fitch said.

China’s LNG growth rate down from 2017, Qatari minister says  (Reuters; Sept. 6) – China’s demand for liquefied natural gas is expected to grow by 20 to 25 percent in 2018 despite heightened trade tensions with the United States…,

Gazprom ‘carries out political projects with dubious returns’  (Bloomberg; Sept. 7) – Something strange has happened in Russia. State-run Gazprom — the world’s biggest natural gas producer — was surpassed in market capitalization by the much smaller Novatek. In 2008, the difference in Gazprom’s and Novatek’s market capitalization exceeded $340 billion. Now, both are valued around $50 billion. If you look at the numbers, this makes little sense. Gazprom’s vast natural gas reserves are close in size to North and South America’s combined….

Mayors stand together in support of LNG Canada project and pipeline (Peace Arch News; Surrey, BC; Sept. 7) – Mayors of 14 communities in northern British Columbia are disappointed that a Smithers resident now wants a federal review of the gas pipeline that would feed a liquefied natural gas export plant proposed for Kitimat, B.C. All of their communities would benefit financially from the LNG Canada project, led by Shell….