The US company Alaska Gasline Development Corporation (AGDC) has signed agreements with several Chinese companies, namely China Petrochemical Corporation (Sinopec), CIC Capital, and Bank of China (BOC) to advance the US$40bn Alaska LNG project (United States).
Alaska LNG is a 20 Mt/year integrated LNG facility project comprising three liquefaction trains in South central Alaska at Nikiski (US) along with a gas treatment plant on the North Slope of Alaska, a 1,287 km (800-mile) long gas pipeline and several interconnection facilities to connect the Prudhoe Bay gas treatment complex (North Slope) to the gas treatment plant (Kenai Peninsula), where it would be liquefied and shipped to Asia. The project is expected to start-up in 2023. Estimates have put proven gas reserves on the North Slope at 35 bcf (991 bcm).
Sinopec eyes LNG purchase on a stable basis from the project, while Bank of China and CIC Capital are looking to provide financial support for the construction. As per the agreement, the parties have agreed to work cooperatively on LNG marketing, financing and investment model of the project by 2018.
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