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For the project, Gardes will be working in partnership with Glacier Oil & Gas Corp., a long-time Cook Inlet producer, according to a statement by Cook Inlet LNG.
Cook Inlet LNG said the project will utilize an FSRU and existing platform infrastructure.
It is being developed as a bridge project to provide energy security for the most populous region of Alaska while longer-term solutions are advanced and realized, it said.
The project will maximize the use of existing oil and gas infrastructure in the Cook Inlet
basin with the initial project structured to supply 22 billion cubic feet, or BCF, of natural gas
per year to the region.
Specifically, the FSRU will be moored alongside the existing Osprey platform on the west side of Cook Inlet.
According to Cook Inlet LNG, gas will be fed into the pipeline system through the platform’s existing infrastructure.
The mooring anchors that will be placed on the floor of Cook Inlet for mooring of the FSRU are the only new infrastructure that will be required for the Cook Inlet LNG project, the company said.
Mid-2029
Cook Inlet LNG expects first available gas from the FSRU project in mid-2029.
The company noted that the project is privately funded, eliminating execution risk to local utilities and ratepayers.
Once the project is in operation, gas supply costs to utilities and ratepayers will be approved by the Regulatory Commission of Alaska (RCA), the same as other gas supply contracts from current operations in the region.
Moreover, Cook Inlet LNG noted that the FSRU would receive LNG tankers approximately once every 30-45 days in winter, with longer durations between resupplies in summer.
The company has initiated the process of obtaining regulatory approvals from the Federal Energy Regulatory Commission, the U.S. Coast Guard, and other regulatory agencies.
“It’s no secret that Southcentral Alaska faces a critical energy gap in just a few short years
that many players in our industry are working hard to overcome. With our FSRU project,
Cook Inlet LNG aims to meet an immediate gas supply need, not impede longer-term gas
supply projects currently being discussed in the public sphere,” said Cook Inlet LNG
project lead Rob Bryngelson.
“Now that we have reached key internal milestones, we can join those critical energy supply discussions with our FSRU project,” he said.
Cook Inlet LNG noted that Bryngelson has brought more than a dozen FSRU projects to market worldwide.
Bryngelson is CEO and managing partner of Arctos Energy Solutions.
Bryngelsone was formerly the founder and CEO of WaveCrest Energy, an LNG infrastructure company.
He is also co-founder and former CEO of US FSRU player Excelerate Energy, and he led the company from inception to more than $3 billion in enterprise value.
Excelerate previously also said that it aims to develop an LNG import terminal in Alaska as part of its expansion plans.
