Alaska Japan LNG Terminal

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Alaska Japan LNG Terminal was a proposed LNG export terminal in Alaska, USA and now cancelled.

Location

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Project Details

• Owner: Resources Energy Inc.
• Location: Port MacKenzie, Alaska, USA
• Coordinates: 61.268424, -149.917030 (approximate)
• Capacity: 1.5 mtpa
• Status: Cancelled
• Type: Export
• Start Year:

Note: mtpa = million tonnes per year; bcfd = billion cubic feet per day

Background

Resources Energy Inc. (REI) is planning an LNG terminal with a capacity of 1 million-1.5 million mtpa at Port MacKenzie, a municipal-owned port on upper Cook Inlet. Capital costs are estimated to be between $1.2 billion and $1.8 billion for the terminal, and an additional $1 billion would be needed to purchase the gas. REI hopes to have its project completed and in production by 2019 or 2020, and will at least initially purchase Cook Inlet gas. REI is a small Japanese owned company, and is aiming at niche markets for LNG which are expected to open in Japan in the next few years as the nation deregulates its gas and electric power industries. Deregulation in Japan means municipalities and other industries will be able to participate in the electric power and gas businesses in competition.

In April 2017, REI announced it was cancelling the LNG terminal project, citing unfavourable market conditions as a result of global LNG oversupply. The company closed its Anchorage office at the end of March 2017. REI had previously been hopeful of securing financing for the project from Japan Bank for International Cooperation.