US, China Sign Agreement to Advance $45bn Alaska LNG Project

The US and China have come up with a joint development agreement to advance the $45bn liquefied natural gas (LNG) export project in Alaska, which is considered to be a strategic gas infrastructure project for the American state. As per the terms of the agreement, the parties will cooperate on LNG marketing, financing, investment model as well as China content in the Alaska LNG project. A periodic result for the project is anticipated to come by 2018.

The Alaska LNG project is expected to create up to 10,000 jobs during its construction stage followed up by around 1,000 jobs for handling the operations.

Alaska State Governor Bill Walker said: “This is an agreement that will provide Alaska with an economic boom comparable to the development of the Trans-Alaska Pipeline System in the 1970s.”