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Alaska Natural Gas Export Project Gains Momentum

Nikiski, Alaska – A decades-long initiative to export natural gas from southern Alaska is poised for potential advancement, fueled by recent backing from former President donald Trump and the involvement of a new development firm. The project, which has faced numerous hurdles, could significantly impact AlaskaS economy and the global energy market. This development arrives as global LNG demand is projected to increase 4.4% in 2024,reaching 464 million tonnes Shell LNG Outlook.

Project History and Previous Challenges

The concept of exporting Alaskan natural gas has been discussed since the 1970s, but various economic and logistical challenges have consistently stalled progress. Initial plans centered around a large-scale pipeline to transport gas from the North Slope to a liquefaction facility on the Kenai Peninsula. However, high construction costs, fluctuating gas prices, and difficulties securing long-term contracts have repeatedly hampered the project. According to the U.S. Energy Information Administration, Alaska holds an estimated 35.3 trillion cubic feet of proven natural gas reserves as of 2022 EIA Alaska Natural Gas Reserves.

Did You Know? Alaska possesses the second-largest proven natural gas