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Oil & Gas

Co-op Offers to Buy, Partner on Alaska LNG plant

March 25, 2010
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A new Alaska cooperative, the Natural Gas Supply Co., is offering to buy or help reinvent a liquefied natural gas plant near Kenai. According to the Associated Press, the co-op represents four utilities: Chugach Electric Association, Matanuska Electric, Homer Electric and Golden Valley Electric in Fairbanks. The co-op has written to ConocoPhillips and Marathon Oil Corp. expressing interest in buying "some or all" of the plant''s assets. ConocoPhillips runs the 40-year-old facility. An export license to ship liquefied natural gas to Japan expires in March. A spokeswoman says no decision has been made on an extension. Some fear a closure would affect gas production and supplies to southcentral Alaska. The co-op is working the Alaska Natural Gas Development Authority, which could help with financing.

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