Updated: 15 minutes agoAlaska’s gas line agency and an oil and gas company with North Slope prospects have taken a step toward a deal that could one day provide gas for the $44 billion Alaska LNG project.
Frank Richards, AGDC president said in the statement that the agreement “solidifies the commercial foundation” for the initial phase. The agreement contains key commercial terms for a binding gas sales agreement that will be negotiated. The terms include Pantheon supplying up to 500 million cubic feet per day of gas, the statement says.Pantheon Resources, based in London, does not currently produce the natural gas that would be needed for the project. It isIt has not yet made a final investment decision that would be needed before the company would develop the Ahpun field for oil and gas production.