Author Topic: Alaska LNG makes deal with Exxon Mobil on gas sales  (Read 75 times)

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Offline thackney

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Alaska LNG makes deal with Exxon Mobil on gas sales
« on: September 12, 2018, 02:04:20 PM »
Alaska LNG makes deal with Exxon Mobil on gas sales
https://www.chron.com/business/energy/article/Alaska-LNG-makes-deal-with-Exxon-Mobil-on-gas-13223620.php
September 12, 2018

The state-sponsored Alaska liquefied natural gas export project has come to terms with Exxon Mobil to buy gas produced by the nation's biggest energy company.

The compromise gas deal agreement announced this week helps move forward the roughly $50 billion Alaska LNG project, which would ship LNG for both domestic use and for exports, including to China. The long-delayed project is run by the state-backed Alaska Gasline Development Corp. and no longer has publicly traded stakeholders like Exxon Mobil, BP and ConocoPhillips.

But Exxon Mobil will sell large volumes of its Alaska-produced natural gas to the project if Alaska LNG is eventually built starting as soon as 2020.

The new deal allows Alaska LNG to buy Exxon Mobil's share of 30 trillion cubic feet of gas produced from from the Prudhoe Bay and Point Thomson developments in Alaska. ExxonMobil operates the Point Thomson field with a 62.75 percent ownership stake. BP owns the rest. Exxon also has a 36.4 percent share of the nearby Prudhoe Bay field – the largest oil and gas field in North America. The rest is held by BP and ConocoPhillips. And, in May, BP also reached a deal to sell gas to the project....
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Offline thackney

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Re: Alaska LNG makes deal with Exxon Mobil on gas sales
« Reply #1 on: September 12, 2018, 02:06:26 PM »
ExxonMobil signs gasline agreements with state
http://www.alaskajournal.com/2018-09-10/exxonmobil-signs-gasline-agreements-state#.W5lUc-hKg2w
09/10/2018

...ExxonMobil’s gas sales precedent agreement — like BP’s — calls for gas to be sold into to the large North Slope gas treatment plant that would be the start of the 807-mile gas pipeline and LNG export project.

AGDC spokesman Jesse Carlstrom said the state-owned corporation is actively engaged in similar discussions with ConocoPhillips.

Department of Natural Resources Commissioner Andy Mack said in an interview that final gas sales agreements would likely be signed nearly in concurrence with a final investment decision on the overall Alaska LNG Project....

...In a separate but related development, Mack and Attorney General Jahna Lindemuth also on Monday signed what is being called a “letter of understanding” with ExxonMobil and BP Alaska leaders to suspend key provisions of the 2012 Point Thomson Settlement Agreement as they work on Alaska LNG.

The letter removes the requirement for ExxonMobil, as the Point Thomson operator, to move forward with a plan to expand production at the field in a way that doesn’t jive with feeding the LNG project....

...Specifically, it prescribes that the company choose to either increase production at Point Thomson to more than 50,000 barrels per day of natural gas liquids, or condensates, and pipe up to 920 million cubic feet of natural gas per day into Prudhoe Bay, or simply grow condensate production to 20,000 barrels per day and reinject the gas into the Point Thomson reservoir.

The current Point Thomson facilities have a production capacity of about 10,000 barrels of condensates and 200 million cubic feet of gas per day. However, the technical challenges of producing gas from and reinjecting into the ultra-high pressure field have hampered ExxonMobil’s production ability...,.
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Online IsailedawayfromFR

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Re: Alaska LNG makes deal with Exxon Mobil on gas sales
« Reply #2 on: September 12, 2018, 03:58:51 PM »
I do hope that this government-run enterprise fares better than most run by the govt.

I am not holding my breath.
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Offline thackney

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Re: Alaska LNG makes deal with Exxon Mobil on gas sales
« Reply #3 on: September 12, 2018, 04:09:20 PM »
I do hope that this government-run enterprise fares better than most run by the govt.

I am not holding my breath.

They have spent a lot of money without laying down a stick of pipe.  Spent a decade now I believe.
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