BRIEF-Harvest Alaska to Re-Develop Kenai Peninsula LNG Terminal

Reuters

Feb 08, 2025

BRIEF-Harvest Alaska to Re-Develop Kenai Peninsula LNG Terminal

Feb 7 (Reuters) - HARVEST ALASKA:

* ANNOUNCES DEAL WITH MARATHON PETROLEUM CORPORATION AND CHUGACH ELECTRIC ASSOCIATION TO BOLSTER SOUTHCENTRAL ALASKA'S ENERGY SUPPLIES THROUGH HARVEST'S ACQUISITION AND RE-DEVELOPMENT OF THE EXISTING KENAI LNG TERMINAL.

* SAYS IT WILL REDEVELOP KENAI LNG TERMINAL WITH FULL SCALE OPERATIONS BEGINNING IN 2028.

* AIMS TO INCREASE SOUTHCENTRAL ALASKA'S ENERGY SUPPLY BY 2026.

* SAYS UNDER PROPOSAL, HARVEST WOULD OWN, DEVELOP AND OPERATE THE LNG TERMINAL AND INFRASTRUCTURE – ALLOWING CHUGACH, MARATHON AND ANY OTHER RAILBELT CUSTOMERS TO SECURE ADDITIONAL NATURAL GAS SUPPLIES TO HELP MEET THE MARKET DEMAND.

* SAYS PROJECT LEVERAGES MPC'S LEGACY LNG EXPORT INFRASTRUCTURE TO ALLEVIATE THE POTENTIAL SHORT-TERM NATURAL GAS SHORTAGE FACING SOUTHCENTRAL ALASKA

((Brijesh.Patel1@thomsonreuters.com; Within U.S. +1 651 848 5832, Outside U.S. +91 9590227221; Reuters Messaging: Brijesh.Patel1.thomsonreuters.com@reuters.net))

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