Latest news with #AlaskaGaslineDevelopmentCorp
Yahoo
20-06-2025
- Business
- Yahoo
LNG exports to primarily drive North America's gas processing capacity additions by 2030
Natural gas processing in North America is experiencing a significant surge, driven by a confluence of factors including growing LNG (liquefied natural gas) exports, increased domestic demand and a strategic pivot towards cleaner energy sources. As the region capitalises on its abundant natural gas reserves to meet growing LNG demand, a significant increase in LNG liquefaction capacity is anticipated, particularly from the US and Canada, which will require corresponding increases in liquefaction and processing facilities. To meet the projected demand, new liquefaction plants and associated infrastructure are being developed in North America, leading to increased gas processing capacity. The US is a major player in this expansion, with plans to significantly increase its LNG export capacity. Growth will necessitate more gas processing infrastructure to handle the increased volume of natural gas being liquefied for export. Prudhoe Bay II is a major upcoming gas processing plant, with substantial capacity additions of 3.9 billion cubic feet per day (bcfd) during the outlook period. Alaska Gasline Development Corp is the operator as well as equity owner of this planned sweetening-type plant, which is set to become operational in 2030. Canada stands second, accounting for 1.3 bcfd of capacity additions by 2030. Arcres Attachie 05-20-084-24 002, Kobes Phase 1 and Kobes Phase 2 are some of the major gas processing plants with significant capacity additions by 2030. Mexico accounts for the remaining gas processing capacity additions in the region, with Papan Expansion accounting for all of the 150 mmcfd capacity addition by 2030. Coastoil Dynamic SA de CV is the operator of the planned fractionation plant, while Coastal Contracts Bhd and Nuvoil SA de CV hold 50% equity each in the plant, which will commence operations in 2025. Further details of global gas processing capacity and capital expenditure analysis can be found in GlobalData's new report, 'Gas Processing Industry Outlook by Capacity and Capital Expenditure with Details of All Operating and Planned Processing Plants to 2030.' "LNG exports to primarily drive North America's gas processing capacity additions by 2030" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Asahi Shimbun
23-05-2025
- Business
- Asahi Shimbun
Benefits for Japan uncertain in Trump-backed LNG project
A tanker carrying LNG berths at a port in Ishikari, Hokkaido, in 2021. (The Asahi Shimbun) As trade negotiations between Japan and the United States intensify, the possibility of increasing Japanese imports of liquefied natural gas (LNG) from Alaska has become a major talking point. While the Alaskan LNG project holds logistical and geopolitical advantages for Japan, serious questions remain about its economic feasibility. Washington has been eager to promote the project, which involves transporting natural gas from fields in Alaska's North Slope to a liquefaction terminal on the southern coast, with plans to export 20 million tons annually to Asia starting in the 2030s. Following a summit with Prime Minister Shigeru Ishiba in February, President Donald Trump said the two countries were discussing a joint gas development project in Alaska. The initiative aligns with U.S. ambitions to reduce its trade deficit through greater energy exports. Just days after announcing a sweeping tariff policy in April, Treasury Secretary Scott Bessent told U.S. media that Japan, South Korea and Taiwan were expected to become key buyers of and investors in Alaskan LNG, possibly offsetting the need for tariffs. Seeking to ease tariff pressures from Trump, Japan has used LNG imports as a bargaining chip in ongoing bilateral negotiations. A senior official from the Japanese delegation said, 'If the project makes economic sense, we are open to importing it.' Taiwan signed a preliminary agreement with the Alaska Gasline Development Corp. in March, and South Korea has also shown interest. MASSIVE PIPELINE COSTS However, doubts about the project persist among Japanese businesses. The project's massive scale is a sticking point. A 1,300-kilometer pipeline is required to connect northern gas fields to the southern coast, with total costs estimated at $44 billion (6 trillion yen). Takashi Uchida, chairman of the Japan Gas Association and chairman of Tokyo Gas Co., noted that the typical cost of LNG development is less than half that amount. The project dates back decades but has repeatedly stalled due to its enormous cost. Daisuke Yamada, executive vice president of Tokyo-based oil and gas development company Inpex Corp., remarked, 'It would be extremely difficult for private companies to make this commercially viable.' Alaska holds historical significance for Japan's energy sector; it was the source of the country's first LNG imports in 1969. Tokyo Gas announced in 2017 that it was considering purchases from the Alaskan gas project, but progress has since slowed. At a news conference earlier this year, Taku Minami, the company's managing executive officer, said no more than, 'We are keeping an eye on it as a potential supply source.' Mitsubishi Corp., which facilitated Japan's first LNG imports from Alaska, is also prioritizing other ventures. Mitsubishi President Katsuya Nakanishi said the company is focusing on completing its LNG Canada project before committing to new ones. LOGISTIC, GEOPOLITICAL APPEAL Despite the financial concerns, Alaska still offers strategic advantages. LNG can be shipped from the U.S. state to Japan in just a week—faster than from the Middle East or the Gulf of Mexico—lowering transportation costs. Diversifying Japan's supply sources also reduces geopolitical risk. Currently, Australia supplies 38 percent of Japan's LNG imports, followed by Malaysia at 15 percent and the United States at 10 percent. Boosting U.S. imports could enhance energy security. Many other LNG projects across the United States, particularly those along the Gulf of Mexico, are nearing final investment decisions, according to the state-backed Japan Organization for Metals and Energy Security. Masataka Yarita, an LNG and methane specialist at the organization, said Alaska's success depends on its ability to offer competitive pricing compared to these alternatives. (This article was written by Satoshi Shinden, Tomoki Morishita and Shiki Iwasawa.)
Yomiuri Shimbun
26-04-2025
- Business
- Yomiuri Shimbun
US Plans Alaska LNG Summit, Will Urge Japan, South Korea to Support Project
Reuters File Photo Model of LNG tanker is seen in this illustration taken May 19, 2022. WASHINGTON, April 24 (Reuters) – U.S. President Donald Trump's energy security council plans to host a summit in Alaska in early June, when it hopes Japan and South Korea will announce commitments to the Alaska LNG project, a source familiar with the matter said on Thursday. Trump has touted the $44 billion Alaska liquefied natural gas project, which would deliver gas from the state's North Slope fields via an 800-mile (1,300-km) pipeline for domestic use and also ship it to customers in Asia as LNG, bypassing the Panama Canal. While the project has been talked about for years, progress has been limited by cost and the amount of work needed. Trump, who has pushed allies to buy U.S. energy while simultaneously threatening trade tariffs, has asked Japanese Prime Minister Shigeru Ishiba to support the Alaskan plan. Last month, Taiwanese state energy company CPC Corp signed a non-binding agreement with the state-run Alaska Gasline Development Corp, to buy LNG and invest in the project, a move Taiwan's President Lai Ching-te said would ensure the island's energy security. The summit being planned by Trump's National Energy Dominance Council, which wants to maximize production of oil and gas, would take place around June 2. It was first reported by The New York Times. The Department of Energy did not comment on the summit, but said the project would provide jobs, energy security to the United States and allies, and is estimated to reduce the U.S. trade deficit by $10 billion annually. Separately, officials from Thailand, which could also be a consumer of the LNG from Alaska, and South Korea are expected to visit the state to talk about the project sometime in the next two weeks, said the source who spoke on the condition of anonymity. It would be the first visit to Alaska by officials from Thailand to talk about the project in Trump's second administration. South Korea's Industry Minister Ahn Duk-geun said on Thursday in Washington that he was not aware of a plan to announce its commitment, and 'there are still a lot of things that need to be done' through due diligence of the Alaska LNG project in order 'to understand the local situation more accurately'. Ahn said that the country is dispatching an inspection team, and results of the due diligence would need to be reviewed to see how discussions will proceed.
Daily Maverick
25-04-2025
- Business
- Daily Maverick
US plans Alaska LNG summit, will urge Japan, South Korea to support project
U.S. President Donald Trump's energy security council plans to host a summit in Alaska in early June, when it hopes Japan and South Korea will announce commitments to the Alaska LNG project, a source familiar with the matter said on Thursday. Trump has touted the $44 billion Alaska liquefied natural gas project, which would deliver gas from the state's North Slope fields via an 800-mile (1,300 km) pipeline for domestic use and send it to customers in Asia as LNG, bypassing the Panama Canal. While the project has been talked about for years, progress has been limited by cost and the amount of work needed. Trump, who has pushed allies to buy U.S. energy while simultaneously threatening trade tariffs, has asked Japanese Prime Minister Shigeru Ishiba to support the Alaskan plan. Last month, Taiwanese state energy company CPC Corp signed a non-binding agreement with the state-run Alaska Gasline Development Corp, to buy LNG and invest in the project, a move Taiwan's President Lai Ching-te said would ensure the island's energy security. The summit being planned by Trump's National Energy Dominance Council, which wants to maximize production of oil and gas, would take place around June 2. It was first reported by The New York Times. The White House and the Interior Department did not immediately respond to a request for comment. Separately, officials from Thailand, which could also be a consumer of the LNG from Alaska, and South Korea are expected to visit the state to talk about the project sometime in the next two weeks, said the source who spoke on the condition of anonymity. It would be the first visit to Alaska by officials from Thailand to talk about the project in Trump's second administration. South Korea's Industry Minister Ahn Duk-geun said on Thursday in Washington that he was not aware of a plan to announce its commitment, and 'there are still a lot of things that need to be done' through due diligence of the Alaska LNG project in order 'to understand the local situation more accurately'. Ahn said that the country is dispatching an inspection team, and results of the due diligence would need to be seen to see how discussions will proceed.
Yahoo
24-04-2025
- Business
- Yahoo
US plans Alaska LNG summit, urges Japan, South Korea to support project, source says
WASHINGTON (Reuters) -President Donald Trump's energy security council plans to host a summit in Alaska in early June, when it hopes Japanese and South Korean officials will announce commitments to the Alaska LNG project, a source familiar with the matter said on Thursday. Trump has touted the $44 billion Alaska liquefied natural gas project, which would deliver gas from the state's North Slope fields via an 800-mile (1,300 km) pipeline for domestic use and send it to customers in Asia as LNG, bypassing the Panama Canal. While the project has been talked about for years, progress has been limited by cost and the amount of work needed. Trump, who has pushed allies to buy U.S. energy while simultaneously threatening trade tariffs, has asked Japanese Prime Minister Shigeru Ishiba to support the Alaskan plan. Last month, Taiwanese state energy company CPC Corp signed a non-binding agreement with the state-run Alaska Gasline Development Corp, to buy LNG and invest in the project, a move Taiwan's President Lai Ching-te said would ensure the island's energy security. The summit being planned by Trump's National Energy Dominance Council, which wants to maximize production of oil and gas, would take place around June 2. It was first reported by The New York Times. The White House and the Interior Department did not immediately respond to a request for comment. Separately, officials from Thailand, which could also be a consumer of the LNG from Alaska, and South Korea are expected to visit the state to talk about the project sometime in the next two weeks, said the source who spoke on the condition of anonymity. It would be the first visit to Alaska by officials from Thailand to talk about the project in Trump's second administration. Sign in to access your portfolio
