Frank Richards
27:29 - 28:18
“my goal is that this project is able to reach a final investment decision for phase one sooner than that. It's really the opportunity that the developer talked to yesterday about what are those existing actions that must be undertaken to complete and have a final investment package, a decision support package that they would then make their decision on. Part of it is again around the property tax.”
- Speaker
- Frank Richards
- Timestamp
- 27:29 – 28:18
- Community
- Alaska News
- Location
- Alaska
- Captured at
From the transcript
Mr. Richards, at prior meetings of this committee it has been stated that final investment decision is imminent and could happen in the fourth quarter of this year. Do you concur with that statement, Mr. Chairman? Frank Richard, for the record, my goal is that this project is able to reach a final investment decision for phase one sooner than that. It's really the opportunity that the developer talked to yesterday about what are those existing actions that must be undertaken to complete and have a final investment package, a decision support package that they would then make their decision on. Part of it is again around the property tax.
Related Coverage
Glenfarne's own cost estimate for Alaska LNG is now significantly higher than AGDC's — and the state's equity option sits in the middle of the new math
Glenfarne raised Alaska LNG cost estimate to 44.5 to 54.5 billion dollars, up from state agency's 38.7 billion. • Legislature can buy 5 to 25 percent equity stake within 180 days after final investment decision. • Property tax reform is central to project financing, with current rates costing roughly 380 million dollars yearly during construction.
