Alaska
Pantheon signs preliminary gas supply deal for Alaska LNG project
Great Bear Pantheon, a subsidiary of Pantheon Resources, has signed a gas sales precedent agreement (GSPA) with 8 Star Alaska, a subsidiary of AGDC.
This agreement outlines the commercial terms for a future binding contract for Pantheon to supply natural gas to the Alaska liquified natural gas (LNG) project.
The project, which is currently under development, aims to deliver gas within Alaska and export up to 20 million tonnes per annum of LNG.
AGDC’s Alaska LNG project is a federally authorised initiative that aims to provide natural gas to Alaska’s regions facing an energy crisis.
It is considering a phased approach, starting with the development of a pipeline from the North Slope to south-central Alaska.
This initial phase does not include an LNG plant, significantly reducing capital expenditure and construction time, with gas transportation possible by 2029.
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AGDC plans to commence front end engineering and design before a final investment decision around mid-2025.
The agreement between Pantheon and AGDC sets the stage for a 20-year supply of up to 500mcf/d from Pantheon’s Kodiak and Ahpun fields at a base price capped at $1 per million British thermal units.
The terms also include minimum daily volumes for the take-or-pay obligation. The potential for a lower gas price exists if both parties collaborate to reduce project financing costs.
The initial term of the GSPA extends to 30 June 2025 or until the definitive gas sales agreement is executed, with provisions for automatic annual renewals.
This agreement could lead to additional funding opportunities for both the Alaska LNG project and Pantheon’s field development activities.
AGDC president Frank Richards commented: “This agreement solidifies the commercial foundation needed for the Phase 1 portion of Alaska LNG and provides enough pipeline-ready natural gas, at beneficial consumer rates, to resolve south-central Alaska’s looming energy shortage as soon as 2029.”
Pantheon executive chairman David Hobbs said: “We are building a mutually beneficial long-term relationship with Alaska LNG and with the state, which seeks to supply much needed gas required for south-central Alaska’s energy needs, while at the same time realising the value from our total aggregate contingent resources exceeding 1.5 billion barrels of ANS blend and six trillion ft³ of natural gas.”
MANLEY HOT SPRINGS — It’s so quiet in these spruce hills and tamarack swamps that 27 hours and 50 miles passed between when Forest Wagner and I said goodbye to one human being at Old Minto and hello to the next near Baker.
Space is in ample supply here on these pressed-in snow trails between towns and villages of Interior Alaska.
Forest and I are out here riding these ephemeral ribbons of blue-white moving westward, with a goal of reaching Nome.
Last Saturday, when it warmed to minus 12 degrees Fahrenheit, I lurched my loaded fat bike out of my home in Fairbanks. Saying goodbye to my wife and dogs, I rumbled eastward on a boot-packed trail that after a mile led to a plowed bike path. I then rolled through the familiar University of Alaska Fairbanks campus and onward 8 miles to Forest’s cabin.
He handed me a mug of coffee and an egg sandwich. Then we started pedaling our fat bikes down Chena Pump Road until we reached the Tanana River.
We found a trail groomed for a multi-sport winter race, turned right, and headed downstream on our home river, there half a mile wide. It was a day when the weather finally nodded toward spring. Fair-a-dise showed up with bluebird skies as the day warmed to 8 degrees Fahrenheit.
After a month of pillowy snows and crazy cold temperatures and re-telling people our new takeoff days to semi-suppressed eye rolls, we were finally unstuck from the glue of town.
If an object wasn’t hanging off our bikes, we didn’t need it. No more fiddling with the load or obsessing on the 7-day weather forecast. Just big ol’ tires humming on dry snow.
Now, five days and 145 miles later, Forest and I are digesting French toast and bacon our friend Steve O’Brien cooked for us as we wait on the dryer in the Manley washeteria. When we get a few dollar bills we will take showers.
It’s a good life here on the trail, just-add-water living at its finest. Eat everything in front of you, apply some sunblock and keep mashing on the pedals.
Steve O’Brien is one of the many people helping us move westward. In one of the most clutch moments, my wife Kristen and our friend Jen Wenrick appeared wearing headlamps on the packed snow ramp off the Tanana River in Nenana. They handed us burgers and fries from the Monderosa.
After a surprise tough day due to soft trail that had us working real hard, those burgers and Cokes were like oxygen.
There have been many other acts of kindness from Jenna and David Jonas, Steve Ketzler, Forest’s dad Joe Wagner and others. Tonic for the body and soul.
We will meet more excellent people, including some old friends, as we ratchet toward Nome.
When my satellite tracker is on, you can see our arrow creeping across the landscape here: https://share.garmin.com/NedRozell.
It was on this day in 1964 that a massive 9.2 earthquake in Southcentral Alaska.
The massive quake at 5:36 pm on March 27th caused much devastation throughout the region and generated a huge tsunami that inundated many communities in the region.
The quake was the largest in the history of the United States and initially killed 15 people while the resulting tsunami killed an additional 100 people in the new state and another 13 in California as well as five in Oregon.
The megathrust earthquake endured for four minutes and thirty-eight seconds and ruptured over 600 miles of fault and moved up to 60 feet in places.
The deadly quake occurred 15 and a half miles deep 40 miles west of Valdez and generated a ocean floor shift that created a wave 220 feet high.
As many as 20 other smaller tsunamis were generated by submarine landslides.
I grew up greeting friends and neighbors on my walk to my neighborhood Anchorage public school, just as my kids do now. It’s an essential, and value-added, part of living in our community.
In the late 1990s, when I attended Service High School, I had amazing teachers. My AP chemistry teacher left the oil and gas industry to teach. He could have earned significantly more money in another field, but teaching was competitive enough, given pensions and compensation, that he stayed in the job he loved and gave a generation of students a solid foundation in chemistry.
Now, my kids, who are in first, third and fifth grade, face a different reality. Teachers across our state are leaving in droves. Neighborhood schools across Alaska are closing. Art and music are being combined, which is nonsensical — they are not the same and they are both valuable independently. When he was in second grade, my oldest had a cohort of more than 60 students in his grade — split between two teachers. When he enters sixth grade next year, there will be no middle school sports and he will lose out on electives. Support systems and specialists to help when kids are falling behind have been cut. I’m lucky that my children have had amazing teachers, but many excellent teachers are nearing retirement age or don’t have a pension and are pursuing other careers. What happens then?
Despite skyrocketing inflation, last year was the first time in years that our schools received a significant increase in the Base Student Allocation — and that money doesn’t begin to make up for what they have lost over the years. Even that increase had to overcome two vetoes from what a recent teacher of the year calls “possibly the most anti-public education governor in the history of Alaska.” Shockingly, my own representative, Mia Costello, despite voting for the increase, failed to join the override to support education. She has failed to explain that decision when asked.
State spending on corrections is up 54% since 2019; meanwhile, spending on education is up only 12% in the same timeframe. Schools are now working with 77% of the funding they had 15 years ago when accounting for inflation.
When we starve our public schools of funding, Alaska families leave. No one wants their child to suffer from a subpar education and the lower test scores and opportunities that come with it. A significant number of people are working in Alaska but choosing not to raise their families here.
To the elected officials who preach school “choice” but starve public schools: our family’s choice is our neighborhood school. It’s our community. It’s where our friends are. Neighborhood public schools, which are required to accept all children, should be the best option out there. Public schools should be a good, strong, viable option for communities and neighborhoods across our great state. Once, they were.
I am thankful for those in the Legislature working to solve these problems. This includes HB 374, which raises the BSA by $630, and HB 261, which would make education funding less volatile.
It breaks my heart that across the state, dedicated teachers keep showing up for our kids while being underpaid and undervalued. Underfunding our schools is also a violation of Alaska’s constitution, which requires “adequate funding so as to accord to schools the ability to provide instruction in the standards.”
Not so long ago, Alaska’s public schools were adequately funded, and they produced well-educated students and retained excellent teachers. It’s up to all of us to reach out to our elected officials and urge them to make that the case once again.
Colleen Bolling is a lifelong Alaskan and mother of three who cares deeply about Alaska’s schools.
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