Frank Richards
92:08 - 93:26
“the cost estimate level for the gas treatment plant and the liquefaction are currently a Class 4. And so, as I started off, you know, we were at $44 billion, we reduced it to $38 billion in 2020. And what AGDC did is we had engaged with Fluor as essentially our owner's engineer over the years, and we asked Fluor to keep up with the cost and we would recast that cost estimate”
- Speaker
- Frank Richards
- Timestamp
- 92:08 – 93:26
- Transcript
- HFIN-260527-1330
- Community
- Alaska News
- Location
- Alaska
- Captured at
- May 27, 2026
From the transcript
Through the Chair, Representative Hannon, the cost estimate level for the gas treatment plant and the liquefaction are currently a Class 4. And so, as I started off, you know, we were at $44 billion, we reduced it to $38 billion in 2020. And what AGDC did is we had engaged with Fluor as essentially our owner's engineer over the years, and we asked Fluor to keep up with the cost and we would recast that cost estimate, meaning we would go out, we'd get price quotes, uh, to make sure that we were up to date as best we could. So we did that in 2022, we did that in 2024, and then what you've most recently received was a CPI index update from the Department of Revenue that took us up to that $46 billion level. So we feel that the work that has been done up to 2026, we kept current with the industry costs, meaning we wanted to make sure that we had what was current, that contractors were bidding on, that pipe suppliers were providing, what process equipment manufacturers were costing, to be able to make sure that we had something that was viable for— to entice investors and entice the market to come into the project.
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