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November 17, 2016 --- Vol. 22, No. 42November 2016

Kenai LNG plant up for sale

Word broke yesterday that ConocoPhillips had sold its North Cook Inlet field and Tyonek platform to Hilcorp in October.

The company said in 2015 that its interest in the Beluga River field and North Cook Inlet were up for sale and it sold its interest in the Beluga River gas field to Municipal Light & Power and Chugach Electric Association.

That left the Kenai LNG plant as the company's remaining Cook Inlet asset.

ConocoPhillips said today in an email that it is in the initial stages of marketing the Kenai LNG plant.

"For 47 years," the company said, "the Kenai LNG Plant was the only LNG export plant in North America."

It said efforts to market the plant are consistent with its efforts to regularly review assets.

"Our current focus is on our North Slope Operations. We believe the plant is a strategic asset that offers good opportunities for the right buyer."

The plant operated for six months in 2015, liquefying 20 billion cubic feet of natural delivering six cargoes but there was no export program in 2016 due to market conditions, the company said.

"The Kenai LNG Plant remains operational and ready to resume exports," ConocoPhillips said.

- KRISTEN NELSON

See story in Nov. 27 issue, available Friday, Nov. 25 at www.PetroleumNews.com

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