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December 23, 2014 --- Vol. 20, No. 68December 2014

Governor signs MOU with REI

Early this afternoon Alaska Gov. Bill Walker signed a memorandum of understanding on liquefied natural gas with Resources Energy Inc. Walker said the MOU provides that the state will work with REI. He said we need a market for Alaska's LNG and Japan needs supply and called the MOU a first step in developing a relationship.

Under former Gov. Sean Parnell an MOU was signed between the state and the commissioner of Natural Resources. Walker said this agreement was different, since it was signed by the governor. He also said the DNR-signed MOU had a sunset date.

The governor said his administration would always be open to talking to markets interested in Alaska LNG.

Japan has a need for more LNG after the 2011 earthquake.

Several Japanese prefectures are looking to replace nuclear energy with LNG and Resources Energy Inc. chose Alaska as the preferred source of LNG for Japan. The company has an Anchorage office and is also working on a smaller LNG project in Cook Inlet to begin deliveries by 2020.

- KRISTEN NELSON

See story in Jan. 4 issue, available online Friday, Jan. 2 at www.PetroleumNews.com

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