Natural Resource Expansion

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Submitted By wbryant454
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Alaska Sees Asia Driving Annual $20 Billion Via Pipeline

This article by Edward Klump on Bloomberg.com discusses the market of natural gas that Alaska’s North Slope has in reserves and the need of this valuable commodity in regards to the countries of Asia, especially China. The state government of Alaska and large natural resource and exploration companies including Exxon Mobile Corp, BP Plc., and ConocoPhillips are currently planning construction of the transportation pipeline and the facilities needed to compress the natural gas into liquid and ship it to their potential consumers. The article states that this venture would generate as much as $20 billion in annual LNG (Liquefied Natural Gas) sales. The 800-mile pipeline project from northern Alaska to a southern port may cost $20 billion to $26 billion; about three times as much as TransCanada Corp.’s Keystone pipeline proposal to link Canada’s oil to the U.S. Gulf Coast, according to a 2010 estimate of the Alaska project. Industry estimates have also pegged Alaska’s Liquefied Natural Gas total project cost at $40 to $50 billion, factoring in a pipeline and liquefaction plant. (Klump 2012 Paragraph 9-10) Alaska’s marketing of the reserves to the lower 48 states has been slowed by technological advances in the process of fracking to obtain natural gas within the continental US. Fracking is the process of drilling deep into shale strata and fracturing the material to release the natural resource. This process is driving future prices down and lowering the natural gas prices to levels never seen before. The article also states that in the month of July, China paid 6-times more for natural gas than it sells for in the US. Alaska is looking to sell its resource at a higher price on the international market. Klump also highlights several points within the article pertaining to…...

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