Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) said its Alaska gas ambitions were put in front of state lawmakers last week as the company appeared alongside major North Slope producers in testimony linked to the proposed AK LNG Project.
The oil and gas developer, which is advancing the Kodiak and Ahpun projects on Alaska’s North Slope, told investors it was invited to present to the Alaska Legislature’s House Finance Committee during a Special Session focused on a tax relief package designed to support the LNG scheme.
Pantheon said the session covered the potential for Kodiak and Ahpun to supply natural gas to the project, which is being pursued by The Glenfarne Group and the State of Alaska. ExxonMobil, ConocoPhillips and Hilcorp were also invited to give testimony as proposed gas suppliers.
The company highlighted the low CO₂ composition of its gas and said it was able and willing to offer gas at a relatively low price to help improve the economics of the AK LNG Project, particularly its first phase, which is intended to supply Southcentral Alaska amid a looming energy shortage.
Pantheon also said farm-out discussions remain active, with multiple parties engaged in the data room. It cautioned that the process is complex and should not be expected to conclude quickly, though it expects to update the market before the end of summer.