The governor's office said in a statement that the state and the Point Thomson working interest owners have reached an agreement, signed today, staying the year-end 2019 deadline for a Point Thomson expansion plan with the purpose of furthering progress on the Alaska LNG Project and aligning work commitments and timelines from the 2012 Point Thomson settlement agreement with the Alaska LNG Project.
The 2017 Point Thomson unit plan of development will remain in effect until the earlier of a major gas sale plan of development or the end of 2019 if a major gas sale POD or expansion project POD has not been submitted.
Today's letter of understanding effectively stays the 2019 deadline as long as the Alaska LNG Project continues to advance. The stay will end when there is a final investment decision on an Alaska LNG Project or work on the Alaska LNG Project is no longer progressing.
In a separate statement the Alaska Gasline Development Corp. said it has reached an agreement with ExxonMobil Alaska Production Inc. on certain key terms including price and volume for a gas sales agreement. A precedent agreement was signed today, AGDC said, for terms for the purchase of ExxonMobil share of Prudhoe Bay and Point Thomson natural gas.
- KRISTEN NELSON
See story in Sept. 16 issue, available online Friday, Sept. 14 at www.PetroleumNews.com
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