Alaska Gasline Development Corp. (AGDC, owned by the State of Alaska in the United States) aims to take over full management of the proposed Alaska LNG project in Nikiski on the Kenai Peninsula before the end of 2016.
The US$45bn Alaska LNG project is developed by ConocoPhilips (70%), BP (15%), TransCanada (10% sold to the State of Alaska through AGDC in November 2015) and ExxonMobil (5%) and would consist of three liquefaction trains with a combined capacity of 20 Mt/year each. In early 2016, project developers decided to slow down development work, due to low prices and new LNG capacities coming online in a context of global LNG surplus; they also invited Alaska to look for alternatives to reduce costs. Equity stakes in the project could be revised.
AGDC has started discussions with major engineering firms to do the FEED work as of 2017. FEED could start as early as 2018 and construction in 2019.