BP, ConocoPhillips Exxon discuss Alaska natural gas export
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BP, ConocoPhillips and Exxon discuss Alaska natural gas export

4:04 AM, 12th January 2012
BP, ConocoPhillips and Exxon discuss Alaska natural gas export

ALASKA, US: Bob Dudley, CEO, BP; Jim Mulva, CEO, ConocoPhillips and Rex Tillerson, CEO, Exxon Mobil, Alaska’s major oil producers said that the only profitable way to exploit the vast but stranded quantity of Alaska’s North Slope natural gas is to export it to Asian Pacific markets, rather than sending to domestic US markets by overland pipeline. Exxon Mobil has been tasked to develop an LNG project that would export natural gas to Asia. Sean Parnell, Governor, Alaska become more convinced with the LNG exports to Asia.

An LNG project would require a pipeline shipping natural gas about 800 miles from Prudhoe Bay to a port in southern Alaska, such as the existing deepwater ports at Valdez in Prince William Sound or Kenai in Cook Inlet. It would require a plant at tidewater to liquefy natural gas and a fleet of LNG tankers to move the product. Once expected to be a major importer, the United States now has up to a century’s worth of supply, prompting plans to ship the cheap fuel to markets in Europe and Asia where prices are up to five times higher.

© Reuters News

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