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http://www.exxonmobil.com
ANCHORAGE, Alaska -- (Business Wire)
In another important step forward for the Alaska LNG project, an
application to export liquefied natural gas (LNG) was submitted to the
U.S. Department of Energy.
The export application requests authorization to export up to 20 million
metric tons per year of LNG for a period of 30 years to countries that
have existing free trade agreements with the U.S., as well as to
non-free trade agreement countries.
“This is a significant milestone for the Alaska LNG project and
demonstrates continued progress toward developing Alaska’s resources,”
said Steve Butt, senior project manager. “Filing of an export
application is a critical step in commercializing North Slope natural
gas.”
The Alaska LNG project would provide significant economic benefits to
Alaskans including state revenues, new job opportunities and access to
decades of domestically produced natural gas for homes and businesses in
Alaska.
According to a study by NERA Economic Consulting, submitted in support
of the application, the Alaska LNG project would have “unequivocally
positive” economic impacts in Alaska and the United States. The Alaska
LNG project is anticipated to create up to 15,000 jobs during
construction and approximately 1,000 jobs for operation of the project.
The proposed project facilities include: a liquefaction plant and
terminal in the Nikiski area on the Kenai Peninsula; an 800-mile,
42-inch pipeline; up to eight compression stations; at least five
take-off points for in-state gas delivery; and a gas treatment plant
located on the North Slope.
The Alaska LNG project participants are the Alaska Gasline Development
Corporation (AGDC) and affiliates of TransCanada, BP, ConocoPhillips,
and ExxonMobil.
The project is now in the pre-front-end engineering and design phase,
which is expected to be completed in 2016. For more information on
Alaska LNG, visit ak-lng.com.
EXXONMOBIL
CAUTIONARY STATEMENT
Estimates, expectations, and business plans in this release are
forward-looking statements. Actual future results, including ultimate
recoveries, actual export volumes, and project plans, costs, and
schedules, could differ materially due to changes in market conditions
affecting the oil and gas industry or long-term oil and gas price
levels; political or regulatory developments; reservoir performance;
timely completion of development projects; technical or operating
factors; and other factors discussed under the heading "Factors
Affecting Future Results" in the Investors section of our website (www.exxonmobil.com)
and in Item 1A of our most recent Form 10-K. The term "project" as used
in this release does not necessarily have the same meaning as under SEC
Rule 13q-1 relating to government payment reporting.
BP
CAUTIONARY STATEMENT
This release contains statements that are forward-looking statements and
involve risks and uncertainties. It is believed that the expectations
reflected in these statements are reasonable, but actual results may
differ from those expressed in such statements, depending on a variety
of factors, including: the specific factors identified in the
discussions accompanying such forward-looking statements; industry
product supply; demand and pricing; political stability and economic
growth in relevant areas of the world; development and use of new
technology and successful commercial relationships; the actions of
competitors; natural disasters and other changes in business conditions;
and wars and acts of terrorism or sabotage.
CONOCOPHILLIPS
CAUTIONARY STATEMENT
This release includes forward-looking statements. These statements
relate to future events, such as anticipated revenues, earnings,
business strategies, competitive position or other aspects of our
operations or operating results or the industries or markets in which we
operate or participate in general. Actual outcomes and results may
differ materially from what is expressed or forecast in such
forward-looking statements. These statements are not guarantees of
future performance and involve certain risks, uncertainties and
assumptions that may prove to be incorrect and are difficult to predict
such as oil and gas prices; operational hazards and drilling risks;
potential failure to achieve, and potential delays in achieving expected
reserves or production levels from existing and future oil and gas
development projects; unsuccessful exploratory activities; unexpected
cost increases or technical difficulties in constructing, maintaining or
modifying company facilities; international monetary conditions and
exchange controls; potential liability for remedial actions under
existing or future environmental regulations or from pending or future
litigation; limited access to capital or significantly higher cost of
capital related to illiquidity or uncertainty in the domestic or
international financial markets; general domestic and international
economic and political conditions, as well as changes in tax,
environmental and other laws applicable to ConocoPhillips’ business and
other economic, business, competitive and/or regulatory factors
affecting ConocoPhillips’ business generally as set forth in
ConocoPhillips’ filings with the Securities and Exchange Commission
(SEC). We caution you not to place undue reliance on our forward-looking
statements, which are only as of the date of this presentation or as
otherwise indicated, and we expressly disclaim any responsibility for
updating such information.
Use of non-GAAP financial information – This presentation may include
non-GAAP financial measures, which help facilitate comparison of company
operating performance across periods and with peer companies. Any
non-GAAP measures included herein will be accompanied by a
reconciliation to the nearest corresponding GAAP measure in an appendix.
Cautionary Note to U.S. Investors – The SEC permits oil and gas
companies, in their filings with the SEC, to disclose only proved,
probable and possible reserves. We use the term "resource" in this
presentation that the SEC’s guidelines prohibit us from including in
filings with the SEC. U.S. investors are urged to consider closely the
oil and gas disclosures in our Form 10-K and other reports and filings
with the SEC. Copies are available from the SEC and from the
ConocoPhillips website.
TRANSCANADA
FORWARD LOOKING INFORMATION
This publication contains certain information that is forward-looking
and is subject to important risks and uncertainties (such statements are
usually accompanied by words such as “anticipate”, “expect”, “would”,
“believe”, “may”, “will”, “plan”, “intend” or other similar words).
Forward-looking statements in this document are intended to provide
TransCanada security holders and potential investors with information
regarding TransCanada and its subsidiaries, including management’s
assessment of TransCanada’s and its subsidiaries’ future financial and
operational plans and outlook. All forward-looking statements reflect
TransCanada’s beliefs and assumptions based on information available at
the time the statements were made and as such are not guarantees of
future performance. Readers are cautioned not to place undue reliance on
this forward-looking information, which is given as of the date it is
expressed in this news release, and not to use future-oriented
information or financial outlooks for anything other than their intended
purpose. TransCanada undertakes no obligation to update or revise any
forward-looking information except as required by law. For additional
information on the assumptions made, and the risks and uncertainties
which could cause actual results to differ from the anticipated results,
refer to TransCanada’s Quarterly Report to Shareholders dated May 1,
2014 and 2013 Annual Report on our website at www.transcanada.com
or filed under TransCanada’s profile on SEDAR at www.sedar.com
and with the U.S. Securities and Exchange Commission at www.sec.gov.
ALASKA GASLINE DEVELOPMENT CORPORATION
CAUTIONARY STATEMENT
As an instrumentality of the State of Alaska, the Alaska Gasline
Development Corporation (AGDC) is not subject to oversight by the U.S.
Securities and Exchange Commission. However, AGDC notes that all
forward-looking statements reflect AGDC’s beliefs and assumptions based
on information available at the time the statements were made and as
such are not guarantees of future performance. Readers are cautioned not
to place undue reliance on this forward-looking information, which is
given as of the date it is expressed in this news release, and not to
use future-oriented information or financial outlooks for anything other
than their intended purpose. AGDC undertakes no obligation to update or
revise any forward-looking information except as required by law.
Contacts:
Alaska Gasline Development Corporation
Miles Baker, 907-330-6360
Mbaker@agdc.com
or
ConocoPhillips
Alaska
Natalie Lowman, 907-263-4153
n.m.lowman@cop.com
or
TransCanada
Media Relations
Shawn Howard, 800-608-7859
or
BP Press
Office
907-564-5143/907-301-8726
Dawn.Patience@bp.com
or
ExxonMobil
Media Relations
Kim Jordan, 832-624-3780
Kimberly.a.jordan@exxonmobil.com
Source: Exxon Mobil Corporation
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