Fairbanks, Alaska Members of the Alaska Gasline Development Corporation presented a project update on the Alaska Liquefied Natural Gas, or LNG Pipeline. Representatives from 40 Fairbanks businesses listened to Alaska Gasline Development Authority Senior Vice President, Frank Richards, explain how the process has been moving.
During the presentation, Richards talked about a recent development agreement with China. In that agreement, China will receive 75 percent of the output from the liquefaction plant. In exchange, they would provide 75 percent of the debt cost of the project, which Richards calls a win-win for both parties. He also spoke about how LNG will benefit everyone.
"From the environmental consideration, the ability to use natural gas, both within Alaska the Asian countries, will help us all in terms of the impacts of pollution that rains down on Alaska," said Richards.
For more information on the Liquefied Natural Gas pipeline, visit the Alaska Gasline Development Corporation website at www.agdc.us.