RE: Gasline5 Dec 2024 05:43
“Today’s resolution authorizes AIDEA to negotiate and sign a letter of credit to backstop front-end
engineering and design (FEED) for the Alaska LNG pipeline, bringing Alaska a critical step closer toward a
privately funded in-state natural gas pipeline. The letter of credit will allow AGDC to unlock up to $50
million in private investment needed to move the Alaska LNG pipeline through FEED, the remaining
development stage that must be completed before a final investment decision can be made. AGDC is in
advanced discussions with potential project partners to privately fund and complete FEED and will
announce updates when new developments occur. The letter of credit for FEED will only be utilized if a
final investment decision is not reached, at which time AGDC will own the completed pipeline engineering and design work.