PHOENIX- Weeks after sweeping financial overhauls he advocated failed in the state legislature, Alaska Gov. Bill Walker announced he will travel to Southeast Asia to promote natural gas sales in a meeting with representatives from the largest single buyer of liquefied natural gas in the world.
Walker announced late last week that he will be attending the CWC 8th World LNG and Gas Series – Asia Pacific Summit in Singapore, where he will give a keynote speech Sept. 21. Walker wants to promote the state's abundant supply of natural gas and find potential buyers for it as part of an effort to offset the revenue the state has missed out on as oil prices declined in recent years.
The state's budget is almost entirely dependent on oil tax revenue.
It has large natural gas reserves on the North Slope that have no way to reach market.
Walker wants Alaska to tap those assets in the near future with its Alaska LNG project, a $45 billion to $65 billion venture envisioned as a joint effort by the state and several large oil companies. Last month executives from ExxonMobil, BP, and ConocoPhillips signaled that they may not participate. Walker has pushed the Alaska LNG project as part of his financial solution to the state's multi-billion dollar deficit.
"As Alaska takes the lead in developing its North Slope natural gas, it is absolutely critical that we go to the global market and meet with prospective buyers," said Walker. "The Alaska LNG project would bring billions of dollars in new revenue to our state, provide affordable energy to Alaskans, and ensure a long-term supply of natural gas to Asian buyers. I am looking forward to the significant networking opportunities this trip will bring, and the chance to promote Alaska's rich supply of natural gas to the world market."
While in Korea, Walker and his team will meet with representatives from KOGAS, the largest single buyer of liquefied natural gas in the world. The group will also meet with officials from POSCO, GS Energy, the Korea Energy Economics Institute, the Korea Ministry of Foreign Affairs, the United States Ambassador to Korea, and others in an effort to promote the sale of Alaska's North Slope natural gas.
