Alaska, Japanese Consortium Extend Gas Cooperation Agreement

State of Alaska Tuesday said it has extended its cooperation agreement with Japan-based consortium Resources Energy, Inc. (REI), to develop Cook Inlet natural gas.

The agreement with REI, which was extended two more years to December 14, 2017, encourages the development of Cook Inlet natural gas to provide Alaskans low-cost energy while also supplying Japanese consumers, stated a press note released by State of Alaska.

Resources Energy is proposing to build and operate a LNG export project in the US state. 

“The world market will certainly benefit from Alaska’s rich natural gas reserves, but my number one priority is ensuring that we work toward affordable energy for Alaskan families and businesses,” Governor Walker said. “Extending this agreement with REI shows Japanese consumers that Alaska is committed to exporting liquefied natural gas.”

Earlier this year, Governors of Alaska and Kyoto signed a memorandum of understanding (MoU) on potential imports of LNG from the US state in Tokyo.

The US state has 33 trillion cubic feet of proven natural gas reserves, and potentially 250 trillion cubic feet more, Governor Walker told a conference in the Japanese capital in September.