Today, the Alaska Delegation applauded the Alaska Gasline Development Corporation (AGDC) and BP Alaska on their announcement of the key terms of a Gas Sales Agreement.
“Today’s announcement is an important step in our efforts to commercialize Alaska’s vast natural gas resources,” said the delegation. “Over the years, trillions of cubic feet of natural gas have been left in place on the North Slope because we lack the infrastructure needed to transport it. The increased production of Alaska's vast resources positions our state to be a leader in global energy security, while also boosting our state's economy. While we recognize that negotiations are ongoing, we congratulate AGDC and BP for working together to move Alaska’s gas to market.”BP Alaska and AGDC announced that key terms of a Gas Sales Agreement have been reached. This agreement establishes the price and volume of natural gas to be sold by BP to AGDC and transported locally and globally. This development comes six months after President Donald Trump and China's President Xi Jinping witnessed the signing in Beijing of the five-party joint development agreement to monetize Alaska’s natural gas.