ANCHORAGE, Alaska (AP) - A Japanese energy company is dropping plans for a liquefied natural gas export facility at Port Mackenzie in the Matanuska-Susitna Borough north of Anchorage.
Anchorage television station KTUU (https://bit.ly/2ofz3wX) reports Tokyo-based Energy Resources Inc. since 2011 has considered developing natural gas from Cook Inlet.
The company’s plans included a billion-dollar LNG export facility.
People were interested in these podcasts
The general manager of the company’s Anchorage office says the project can no longer be supported because of market conditions.
Mary Ann Pease says there is a glut of projects marketing to Japan and LNG prices are a fraction of what they were.
Alaska Gov. Bill Walker describes the news as “disappointing.”
He says he remains confident in the viability of a larger-scale, state-owned Alaska LNG Project aimed at monetizing North Slope gas reserves.
___
Information from: KTUU-TV, https://www.ktuu.com
Please read our comment policy before commenting.