Public Company Information:
ANCHORAGE, Alaska--(BUSINESS WIRE)--The Alaska LNG project marks another significant milestone with today’s announcement by the United States Department of Energy that it has conditionally authorized the Alaska LNG Project LLC to export liquefied natural gas to non-Free Trade Agreement countries.
The application to export up to 20 million metric tons per year of liquefied natural gas from Alaska for a 30-year period was submitted to the U.S. Department of Energy last July. Authorization to export to nations with existing free trade agreements with the U.S. was previously received in November 2014. Today’s announcement conditionally further expands the authorization to include non-Free Trade Agreement countries as well.
“We are very pleased with the progress this represents,” said Steve Butt, Alaska LNG senior project manager. “As with any large scale LNG project, access to as many markets as possible will improve the commercial viability of the proposed project.”
The Alaska LNG project would provide significant economic benefits to Alaskans including state revenues, new job opportunities and access to decades of in-state natural gas for homes and businesses in Alaska. The Alaska LNG project is anticipated to create up to 15,000 jobs during construction and approximately 1,000 jobs for the operation of the project.
The proposed project facilities include a liquefaction facility in the Nikiski area on the Kenai Peninsula, an 800-mile large diameter pipeline, up to eight compression stations, at least five take-off points for in-state gas delivery, a gas treatment plant located on the North Slope and transmission lines to transport gas from Prudhoe Bay and Point Thomson to the gas treatment plant.
The Alaska LNG project participants are the Alaska Gasline Development Corporation (AGDC) and affiliates of ExxonMobil, TransCanada, BP and ConocoPhillips. For more information on Alaska LNG, visit ak-lng.com.
Statements of future events and conditions in this release are forward-looking statements. Actual future results, including project plans, costs, and schedules and economic impacts, could differ materially due to changes in market conditions affecting the oil and gas industry or long-term oil and gas price levels; political or regulatory developments, including the outcome of required regulatory reviews and permitting processes; technical or operating factors; and other factors discussed under the heading “Factors Affecting Future Results” in the Investors section of our website (www.exxonmobil.com) and in Item 1A of our most recent Form 10-K. The term "project" as used in this release does not necessarily have the same meaning as under any government transparency payment reporting requirements.
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FORWARD LOOKING INFORMATION
This publication contains certain information that is forward-looking and is subject to important risks and uncertainties (such statements are usually accompanied by words such as "anticipate", "expect", "believe", "may", "will", "should", "estimate", "intend" or other similar words). Forward-looking statements in this document are intended to provide TransCanada security holders and potential investors with information regarding TransCanada and its subsidiaries, including management's assessment of TransCanada's and its subsidiaries' future plans and financial outlook. All forward-looking statements reflect TransCanada's beliefs and assumptions based on information available at the time the statements were made and as such are not guarantees of future performance. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this news release, and not to use future-oriented information or financial outlooks for anything other than their intended purpose. TransCanada undertakes no obligation to update or revise any forward-looking information except as required by law. For additional information on the assumptions made, and the risks and uncertainties which could cause actual results to differ from the anticipated results, refer to the Quarterly Report to Shareholders dated April 30, 2015 and 2014 Annual Report filed under TransCanada's profile on SEDAR at www.sedar.com and with the U.S. Securities and Exchange Commission at www.sec.gov.
ALASKA GASLINE DEVELOPMENT CORPORATION
As an instrumentality of the State of Alaska, the Alaska Gasline Development Corporation (AGDC) is not subject to oversight by the U.S. Securities and Exchange Commission. However, AGDC notes that all forward-looking statements reflect AGDC’s beliefs and assumptions based on information available at the time the statements were made and as such are not guarantees of future performance. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this news release, and not to use future-oriented information or financial outlooks for anything other than their intended purpose. AGDC undertakes no obligation to update or revise any forward-looking information except as required by law.
Alaska Gasline Development Corporation
Miles Baker, 907-330-6360
Natalie Lowman, 907-263-4153
TransCanada Media Relations
Shawn Howard, 800-608-7859
BP Press Office
ExxonMobil Media Relations
Aaron Stryk, 832-624-7559