Officials with several Alaska utilities say they’ve been informed by Hilcorp that the company does not currently have enough natural gas reserves in Cook Inlet to provide for new gas contracts.
Biden administration cites lackluster industry interest in canceling Cook Inlet oil and gas lease sale“Our goal is to work together for long-term solutions,” it said. “This requires a better understanding of each utility’s constraints and needs based on existing contracts and forecasting our collective demand growth into the next decade as well as considering additional options to meet the unique energy needs of our region.
Homer Electric faces the first contract expiration date in April 2024, for what state officials have described as a relatively small amount of gas. Curtis Thayer, executive director of the Alaska Energy Authority, said Hilcorp has indicated it wants to play a smaller role in the Inlet in the decades to come.
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