TOKYO : Qilak LNG plans to invest $5 billion in a proposed liquefied natural gas (LNG) facility in Alaska's North Slope to compete with Russia's Yamal project for Asian customers towards the end of this decade, its chief executive said.Major LNG importers such as Japan, South Korea and Taiwan are rethinki
TOKYO : Qilak LNG plans to invest $5 billion in a proposed liquefied natural gas facility in Alaska's North Slope to compete with Russia's Yamal project for Asian customers towards the end of this decade, its chief executive said.
"This project could open up a whole new province of supply for LNG, ammonia and hydrogen... There are geopolitical advantages and diversifying Arctic gas supplies away from Russia is generally a well received concept," Treadwell said.Yamal LNG, which shipped its first cargo in 2017, cost $27 billion to liquify 16.5 million tonnes of LNG per annum, company data shows. That is about $1.6 billion per 1 million tonnes, according to Reuters calculations.
"We are speaking to potential investors inside and outside Japan, as well as firms that can help us reduce the carbon footprint of the project," he said, without providing further details. Qilak LNG is yet to chose engineering, procurement and construction, as well as shipping companies, but Nana Worley and Aker Arctic Technology are expected to lead the feasibility study, Treadwell said.
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