Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) has welcomed the announcement by the Alaska Gasline Development Corporation (AGDC) of an exclusive framework agreement with a private company to lead and fund the development of the Alaska LNG project.
AGDC President, Frank Richards, and Alaska Governor, Mike Dunleavy, announced the news on 6 January at a news conference.
Pantheon Resources is developing the Kodiak and Ahpun oil fields close to pipeline and transportation infrastructure on Alaska's North Slope.
David Hobbs, executive chairman of Pantheon Resources, commented: “This moves the Alaska LNG project a step closer to fruition and, upon execution of definitive agreements, providing long-term energy security for the State of Alaska.”
Pantheon and AGDC signed a gas supply precedent agreement in June 2024, under which Pantheon would supply its natural gas into the pipeline pursuant to a definitive agreement to be negotiated in the coming months.
“We look forward to project progress as the parties work together to realise Phase 1 of 'Alaska LNG' (the gas pipeline) and ultimately the full 'Alaska LNG' project," added Hobbs.