
Frank Richards
13:16 - 14:30
"The document that we are discussing today is a draft document that AGDC staff created specifically to provide information to AGDC's board while we were working on the definitive agreement. It contains a summary description of the, the documents that we were negotiating with Glenfarm at the time, specifically naming them, but it also includes information around the selection of Glenfarm as the lead developer as compared to other parties. And so there is commercially sensitive information in there about other parties that we would find, again, would breach our confidentiality agreements with those other parties."
“The document that we are discussing today is a draft document that AGDC staff created specifically to provide information to AGDC's board while we were working on the definitive agreement. It contains a summary description of the, the documents that we were negotiating with Glenfarm at the time, specifically naming them, but it also includes information around the selection of Glenfarm as the lead developer as compared to other parties. And so there is commercially sensitive information in there about other parties that we would find, again, would breach our confidentiality agreements with those other parties.”
Through the Chair, through to Speaker Edgeman, again, Frank Richards for the record. The document that we are discussing today is a draft document that AGDC staff created specifically to provide information to AGDC's board while we were working on the definitive agreement. It contains a summary description of the, the documents that we were negotiating with Glenfarm at the time, specifically naming them, but it also includes information around the selection of Glenfarm as the lead developer as compared to other parties. And so there is commercially sensitive information in there about other parties that we would find, again, would breach our confidentiality agreements with those other parties. So that is of concern to me that, and I tried to address this in the public media, is that we have put out a confidential document within the confines of the organization, AGDC, and our board of directors, and then it has miraculously arrived now into the halls of the the Alaska State Legislature.
The Alaska Senate added a corporate income tax on oil and gas pass-through entities like Hilcorp to the AK LNG gas-pipeline bill (HB 381), effective 2028 regardless of the project.

State economist Dan Stickel told a legislative conference committee Friday that the Senate version of HB 381 reduces the Alaska LNG export break-even price from $9.05 to $8.62 per thousand cubic feet — still above current futures market prices near $8 — prompting Rep. Justin Ruffridge to say the project simply "doesn't work."
