Alaska Senate Bill Boosts LNG Project Oversight

In English, it's March 17th. Here's what is happening.

A top Alaska State Senate leader is pushing a new bill to boost oversight of the Alaska LNG project as it nears a key investment decision.

Senator Kathy Gazelle, who chairs the Senate Resources Committee, introduced Senate Bill 275, dubbed the Alaska Gasoline Transparency and Accountability Act.

The measure aims to update old laws and ensure the state gets fair value from North Slope natural gas if the pipeline goes ahead.

The project involves an 800-mile pipeline from the North Slope to South Central Alaska, plus plans to process and liquefy gas for local use.

And export.

Last March, the State Agency Alaska Gasoline Development Corp handed over 75% control to private developer Glen Farn to speed things.

Up after years of delays, the bill tackles transparency by letting lawmakers see private cost estimates and projections under non-disclosure agreements.

It also demands details on major investors and buyers, bars deals with foreign entities without approval and tweaks oil and gas taxes like blocking.

The deductions for gas leases on oil taxes and adding a $0.15 surcharge per 1,000 cubic feet of exported liquefied gas.

Supporters say it's vital to protect alaskans from bad deals or stranded infrastructure, but critics worry it overreaches and could scare off.

Investors, right when commitments are needed.

One Republican Senator called it more like a state takeover than simple accountability.

The bill just had its first hearing last Friday, with two more set for this week and the session wraps in about two months.

Meanwhile, Glen Farn is reviewing it and pushing for property tax breaks, while Governor Mike Dunlevy plans to propose a 90% cut for the project soon.

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