
Adam Prestidge
27:28 - 27:46
"we made the decision not to pursue that. We asked AEDA to stand down, and we've continued to fund— we've paid for the engineering study. It was successful. We've continued to fund all of the expenses of developing this project ourselves."
“we made the decision not to pursue that. We asked AEDA to stand down, and we've continued to fund— we've paid for the engineering study. It was successful. We've continued to fund all of the expenses of developing this project ourselves.”
We're asking for the opportunity to be able to take it on ourselves and bear that risk ourselves. So at that time, we made the decision not to pursue that. We asked AEDA to stand down, and we've continued to fund— we've paid for the engineering study. It was successful. We've continued to fund all of the expenses of developing this project ourselves.
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.
