Frank Richards, president of the Alaska Gasline Development Corp., speaks at a Jan. 6, 2025, news conference held in Anchorage by Gov. Mike Dunleavy. Dunleavy is standing behind him. (Photo by Yereth Rosen/Alaska Beacon)
The state-owned corporation in charge of developing a trans-Alaska natural gas pipeline said Monday that it is in secret negotiations with an energy company to lead and fund the project.
The pipeline and associated infrastructure is expected to cost at least $44 billion, and that cost has been an insurmountable hurdle for a project that has been discussed for more than 50 years.
Frank Richards, head of the Alaska Gasline Development Corp., declined on Monday to share any details of the potential agreement, including the name of the state’s partner.
“I’m announcing that AGDC has reached an exclusive framework agreement with a qualified energy company to privately lead and fund the development of the Alaska LNG project,” he said at a news conference.
“I expect a formal announcement of the definitive agreements in the next few months,” Richards said.