
Adam Prestidge
25:44 - 26:24
"Glenfarn is developing the Alaska LNG Project at our own risk and at our own expense. There's no request for the state to continue to put in additional development cash, and there is certainly no right or expectation for Glenfarn to be reimbursed for any of our development expenses by the state."
“Glenfarn is developing the Alaska LNG Project at our own risk and at our own expense. There's no request for the state to continue to put in additional development cash, and there is certainly no right or expectation for Glenfarn to be reimbursed for any of our development expenses by the state.”
Sure. [FOREIGN LANGUAGE] For the record, agree with what Mr. Kissinger has said. Glenfarn is developing the Alaska LNG Project at our own risk and at our own expense. There's no request for the state to continue to put in additional development cash, and there is certainly no right or expectation for Glenfarn to be reimbursed for any of our development expenses by the state. And I agree very, very much that if Glenfarn were to find that the project had failed or we were unable to be successful and we abandoned the project— again, we don't ever— we don't see that happening because we're confident in the project.
Glenfarne's Adam Prestidge told the Alaska Senate Finance Committee on Tuesday that the 2060 sunset in HB 381 is non-negotiable because lenders underwriting 30-year project debt will assume the worst-case tax scenario for the full loan term if any shorter abatement is written into law.

Glenfarne president Adam Prestidge told the Alaska State Senate Finance Committee on Tuesday that the company bears all development costs and has no right to reimbursement from the state if the Alaska LNG project collapses before reaching a final investment decision.
