Alaska Gasline Development Corporation to develop Alaska Stand Alone Pipeline Project
Clients Alaska Gasline Development Corporation
Jones Day represented the Alaska Gasline Development Corporation ("AGDC") in connection with the development of the Alaska Stand Alone Pipeline ("ASAP"), a proposed $7.6 billion, 727-mile, low pressure natural gas pipeline running from Alaska's Prudhoe Bay to Point MacKenzie, with a 30-mile lateral line between the main pipeline and Fairbanks. The ASAP Project is part of a prolonged effort to harvest Alaska's vast reserves of gas, which have remained largely untapped since the 1968 discovery of the Prudhoe Bay oil field. The North Slope holds more than 35 trillion cubic feet of discovered gas, almost four times the UK's reserves.
Jones Day also represented AGDC in connection with its equity investment in, and development of, the Alaska LNG Project ("AKLNG"), one of the largest LNG export projects of its kind in the world. AKLNG, which is estimated to cost between $45 and $65 billion to develop, is proposed to include a gas processing plant, an 800-mile (1,287-kilometer) pipeline from Alaska's North Slope, and a liquefaction facility in the Kenai Peninsula. AGDC has joined with ExxonMobil, BP, and ConocoPhillips to evaluate and further the development of the project pursuant to the terms of, among other agreements, a Heads of Agreement and a pre-FEED joint venture agreement.