Video Clips
Quoted moments from Alaska public meetings, hearings, and press conferences.
Clips from Alaska State SenateClear
0:06
Pete Eklund
“These changes are intended to make the tax easier to understand and much easier to administer.”Alaska Legislature: Senate Finance - June 19, 2026 9:01am · Jun 19, 2026
1:03
Pete Eklund
“The most significant change is that the committee substitute in front of you does not use capital expenditures as a component of the tax rate or the collection of the tax. Instead, it returns to a single tax rate at each stage of the project. These rates were developed to match the effective tax rate under the House version of the bill based on the Department of Revenue's modeling of the bill. So during Phase 1, the committee substitute sets the tax rate at 6.2 cents per 1,000 cubic feet, which is a blend of the 6-cent tax on the pipeline and the other body's version, and the impact of the— we've been referring to a mini gas treatment plant, Mr. Chairman, that would be— have to be put in place in Phase 1.”Alaska Legislature: Senate Finance - June 19, 2026 9:01am · Jun 19, 2026
0:10
Lyman Hoffman
“This morning we have only one item on today's agenda, that being HB 381, oil and gas property tax and municipal tax.”Alaska Legislature: Senate Finance - June 19, 2026 9:01am · Jun 19, 2026
0:34
Bert Stedman
“there has been a lot of dialogue with the administration, AGDC, and members here, and the other legislation that's been circulating around the building, trying to come up with something that focuses on getting to a gas line and not an obstacle to block construction of the gas line.”Alaska Legislature: Senate Finance - June 19, 2026 9:01am · Jun 19, 2026
0:33
Lyman Hoffman
“Our intent is to get action on all of these points. And that is the dilemma that we're facing. We've had extensive dialogue with the administration to date. And at some point, we need to proceed down the path of getting a bill across the floor.”Alaska Legislature: Senate Finance - June 19, 2026 9:01am · Jun 19, 2026
0:54
Pete Eklund
“the tax abatement and the AVT do not apply to a natural gas project if by January 1st, 2028, a final investment decision has not been made on Phase 1 of a natural gas project, or number 2 there, on December 31st, right, or by December 31st, 2032, construction of a gas pipeline associated with Phase 1 of the natural gas project has not been completed. So you have to come into FID by January 1st, '28, and complete Phase 1 by December 31st, 2032.”Alaska Legislature: Senate Finance - June 19, 2026 9:01am · Jun 19, 2026
0:40
Bert Stedman
“I think if they meet the previous date of final investment decision by January 1st of '28 and start construction, I think there'd be probably be some flexibility by the legislature in the event that there was some unforeseen black swan events or something that messed up the construction, slowed it down intentionally, or whatever to, you know, we can change these and modify these going forward. This is not in the Constitution.”Alaska Legislature: Senate Finance - June 19, 2026 9:01am · Jun 19, 2026
1:24
Claire Knudsen-Latta
“proposed statutory revisions with HB 381 require that for a project to be eligible for tax abatement under AS 43, 59-010, it must include a spur line to the City of Fairbanks and Fairbanks North Star Borough, and the cost of the spur line must be allocated in a just, reasonable, and not unduly discriminatory manner across all consumers system-wide.”Alaska Legislature: Senate Finance - June 16, 2026 1:30pm · Jun 16, 2026
0:21
Adam Prestidge
“when we talk about the Fairbanks Spur Line, we are— and again, we will give the specific final numbers, but just for frame of reference for this conversation, approximately 30 miles with a diameter of 12 to 14 inches in diameter.”Alaska Legislature: Senate Finance - June 16, 2026 1:30pm · Jun 16, 2026
0:20
Lyman Hoffman
“I would expect, highly expect that there are going to be cost overruns. What happens to the Fairbanks spur line given the language in Section 19 that I referred to?”Alaska Legislature: Senate Finance - June 16, 2026 1:30pm · Jun 16, 2026
0:44
Adam Prestidge
“the question might come, why would we want— why would other ratepayers in Alaska be willing to accept this additional cost? And the reality is, having Fairbanks have access to gas and being a buyer and consumer of gas off the pipeline is good for everyone.”Alaska Legislature: Senate Finance - June 16, 2026 1:30pm · Jun 16, 2026
0:46
Claire Knudsen-Latta
“spreading the cost of the spur line across the entire system acts to decrease the rates related to the spur as costs are spread over a greater area. However, in utility and pipeline regulation, there is a well-founded principle which appears at 3 AAC 48510 that the causer of the cost and consequently recipient of the cost benefit should also be the one to pay the cost. System-wide recovery would be contrary to this principle as not all users of the system are causing the cost or receiving the benefits of the SPUR.”Alaska Legislature: Senate Finance - June 16, 2026 1:30pm · Jun 16, 2026
0:55
Claire Knudsen-Latta
“it appears the application by the Alaska Gas Line Development Corporation, or AGDC, did not include the Fairbanks Spur, and thus, it is unlikely that FERC's May 2020 decision extends its jurisdiction over the spur.”Alaska Legislature: Senate Finance - June 16, 2026 1:30pm · Jun 16, 2026
1:05
Adam Prestidge
“the developer would initiate a tariff proceeding with the Regulatory Commission of Alaska and file for, as has been discussed, a system-wide tariff treatment that would allow the cost of the Fairbanks spur line to be spread across to other customers. the cost of the Fairbanks Spur Line would be spread across other gas buyers from the domestic pipeline.”Alaska Legislature: Senate Finance - June 16, 2026 1:30pm · Jun 16, 2026
0:39
Frank Richards
“I'm told, but I've never seen it, it's less than $150 million. Understood. No, I think that's helpful because we've heard numbers from $150 to $200 and then $240, so we should be thinking in the range of the $150 range. Through the chair, Senator Steadman again, and I believe that that includes not only not only the initial 38 miles, but also extensions out now out to North Pole and potentially out and beyond into Eielson.”Alaska Legislature: Senate Finance - June 16, 2026 1:30pm · Jun 16, 2026
0:41
Claire Knudsen-Latta
“Not knowing who will construct or operate the line means that the commission cannot answer questions about whether the spur will be economically regulated or not. Additionally, the commission cannot speak to whether the operator will seek certification under AS4206 or AS4208.”Alaska Legislature: Senate Finance - June 16, 2026 1:30pm · Jun 16, 2026
0:24
Adam Prestidge
“Extending it to all of the ratepayers across Alaska stretches that concept a little bit. Extending it to global LNG buyers extends it far outside of the bounds of commercial sensibility. And so we recommend removing that.”Alaska Legislature: Senate Finance - June 16, 2026 1:30pm · Jun 16, 2026
0:43
Adam Prestidge
“if it is Glenfarn that builds the Fairbanks Spur Line, or if it is an Alaska Native corporation, or one of the utilities, or a joint venture that includes all of those parties or some of those parties, it doesn't have an impact on the eligibility of the Alaska LNG Project. So long as these conditions are satisfied.”Alaska Legislature: Senate Finance - June 16, 2026 1:30pm · Jun 16, 2026
0:55
Adam Prestidge
“it is not a firm commitment that all of the permits must be obtained because that is outside of the scope of the project developer's control. That is outside of 8 Star's control. At the end of the day, if there is a regulatory agency that for some reason declined to issue permits for the Fairbanks Spur Line, we wouldn't want that to jeopardize the tax treatment for the overall project that benefits the entire state of Alaska.”Alaska Legislature: Senate Finance - June 16, 2026 1:30pm · Jun 16, 2026
0:54
Adam Prestidge
“That additional cost, if the RCA were to approve a tariff that spread the cost across all of the users, would be a a very low additional cost to Fairbanks consumers on top of what would be the $16 tariff. when we're talking about the incremental cost that would be spread across customers, you're looking at, you know, something— 10 cents. I can't pin down an exact number, but in the range of 20 to 30 cents per MMBtu of gas would be the amount that would be spread across all buyers.”Alaska Legislature: Senate Finance - June 16, 2026 1:30pm · Jun 16, 2026
0:29
Adam Prestidge
“If you're looking at the life of the 30-year loan, any lender or investor is going to look at the economics of that— of the project on that 30-year forecast and can the project handle its debt service payment— its debt payments over that period of time. And so having the tax reduction apply for that time, that equal amount of time to the loan is very critical in— for the economic viability of of the project.”Alaska Legislature: Senate Finance - June 16, 2026 9:00am · Jun 16, 2026
0:50
Frank Richards
“it was with Matt's expertise that we hammered out those agreements and looked out for the interest of the state of Alaska in those agreements so that we had what was a working arrangement where the developer Glenfarm would come in and bear the cost of this project taking us to final investment decision. That was key because we understood clearly from the legislature that there was not going to be any more money to be able to move this project forward from the state of Alaska.”Alaska Legislature: Senate Finance - June 16, 2026 9:00am · Jun 16, 2026
0:52
Lyman Hoffman
“I would say this is a very valuable dialogue because there are rumors abound in this building. Many questions are revolving around this, particularly in the Senate.”Alaska Legislature: Senate Finance - June 16, 2026 9:00am · Jun 16, 2026
0:41
Adam Prestidge
“if Glenfarm were to determine the project had failed or if Glenfarm were to decide to abandon the project, we wouldn't have any way to seek any recourse or any reimbursement for what we have done.”Alaska Legislature: Senate Finance - June 16, 2026 9:00am · Jun 16, 2026
0:26
Jesse Kiehl
“What about ownership of project assets and intellectual property, whether that's the FERC license permits or engineering studies or those things. How is ownership of those resolved? God forbid this thing doesn't go. Senator Keel, through the chair, those would stay with 8 Star.”Alaska Legislature: Senate Finance - June 16, 2026 9:00am · Jun 16, 2026
0:13
Matt Kissinger
“Mr. Kissinger, would you agree with that statement? Chair Hoffman, yes, I agree with that statement 100%.”Alaska Legislature: Senate Finance - June 16, 2026 9:00am · Jun 16, 2026
0:35
Lyman Hoffman
“under that scenario, unless the legislature decides to take the investment option, there is no scenario that that Glenfarm sees that under any scenario that there would be a cash call by the state of Alaska or by Glenfarm. Chair Hoffman, that is 100% true and correct. There is no scenario where we will ask the state for money.”Alaska Legislature: Senate Finance - June 16, 2026 9:00am · Jun 16, 2026
0:27
Adam Prestidge
“With the concept being that if the engineering studies resulted, in an unviable project, or the project failed to go forward, then that up to $50 million could be reimbursed by ADA, by the state, to the developer. We took a look at that, and we thought that that didn't align with the way that we want to take on this project, where we don't have an expectation or request from the state.”Alaska Legislature: Senate Finance - June 16, 2026 9:00am · Jun 16, 2026
0:19
Bert Stedman
“I have yet to see what is the economic impact of the projections of the concession. No one's showed us that. Does it move the return 10 basis points? Does it move 50 basis points? Does it put you clear in the green light zone so it goes to FID tomorrow?”Alaska Legislature: Senate Finance - June 16, 2026 9:00am · Jun 16, 2026
0:53
Matt Kissinger
“There was a comment made on the House floor last week that the legislative consultant had indicated that the industry was moving more towards shorter and shorter term contracts. And really, this long— the nature of these long-term contracts of the LNG industry is really what differentiates it so much from the oil industry and oil developments. And I just wanted to correct that, that statement that in 2025, the United States developers of LNG projects entered into sales and purchase agreements for 40 million tons of LNG, so double what our project is across the whole U.S. 95% of those contracts were for 20-year contracts.”Alaska Legislature: Senate Finance - June 16, 2026 9:00am · Jun 16, 2026
0:29
Matt Kissinger
“if and when that happens, there is no payment obligation of the state back to Glenfarm. There is no payment obligation under that circumstance.”Alaska Legislature: Senate Finance - June 16, 2026 9:00am · Jun 16, 2026
0:39
Matt Kissinger
“The sunset provisions are contained through a web of sections, 21, 23, 26, 32, and 34. And these are, a lot of them are quite technical, but they really point to the department, the Commissioner of Revenue making the determination that Glenfarm have first met the requirements and so are subject to the AVT, and then later these sunset. Through these provisions. And they sunset on January 1, 2060. I would like to invite Mr. Prestidge to explain the requirement for that date”Alaska Legislature: Senate Finance - June 16, 2026 9:00am · Jun 16, 2026
0:36
Adam Prestidge
“this project is structured under project finance where the construction of the project is being financed through loans and investments, but primarily through loans from institutions that would be repaid over a 30-year period of time. And so an effort to keep the cost of the project lower and to keep the cost of gas lower is to spread the debt payments over a longer period of time.”Alaska Legislature: Senate Finance - June 16, 2026 9:00am · Jun 16, 2026
0:38
Bert Stedman
“If Glenfarm exits, is there going to be a request back to the state to have to buy that data back, or do you just say one day, you got to excuse me, I'm cleaning out my desk and hitting the road, here's my forwarding address if I left anything behind in my desk, here's all the documents, goodbye, there's no monetary change or nothing”Alaska Legislature: Senate Finance - June 16, 2026 9:00am · Jun 16, 2026
0:33
Matt Kissinger
“What happens is the developer under our contracts, between AGDC and Glenfarm, developer Glenfarm, they have to continue diligent development efforts until they achieve an FID. And we have laid out sort of 10 criteria of what it means to, you know, commit to— or to undertake diligent development efforts.”Alaska Legislature: Senate Finance - June 16, 2026 9:00am · Jun 16, 2026
0:37
Adam Prestidge
“if that ever did happen, Glenfarn would have no recourse, no ability or expectation or request to be reimbursed. We're doing this at our own risk. To underscore that, the proof of that, when Glenfarn was negotiating to come in to take on this project, there was a concept on the table that was an ADA backstop. And it was being considered a bit by the legislature. There was a bit of press about it where the concept was that ADA would provide a reimbursable or reimbursement guarantee of up to $50 million to cover the cost of engineering studies on the pipeline.”Alaska Legislature: Senate Finance - June 16, 2026 9:00am · Jun 16, 2026
0:40
Adam Prestidge
“if you had a shorter-term abatement in, you know, Texas or Louisiana, you'd factor in the cost burden on the project during that 10 years, which would be zero. And then for the remainder of the term, you'd calculate whatever the— whatever the region— whatever the jurisdictional tax is at that time. And the differentiation is those are not— those are not 20 mils in those jurisdictions, and so those are not so negative towards the project.”Alaska Legislature: Senate Finance - June 16, 2026 9:00am · Jun 16, 2026
0:16
Adam Prestidge
“Senator Simpson, we'd be happy to work on something and put something together. To answer that question. We work with Department of Revenue and also just independently as well.”Alaska Legislature: Senate Finance - June 16, 2026 9:00am · Jun 16, 2026
0:43
Bert Stedman
“what is the economic impact of this— concession being asked for on the pipeline itself, not the conditioning plant, not the liquefaction plant, but the pipeline, and how does it move the economic model and cash flows.”Alaska Legislature: Senate Finance - June 16, 2026 9:00am · Jun 16, 2026
0:33
Bert Stedman
“I'd like to have that data set or that data point analyzed by your guys' internal data and your own model because you guys have the inside information. You got better information than Revenue has and better information than the Frankly, the governor has.”Alaska Legislature: Senate Finance - June 16, 2026 9:00am · Jun 16, 2026
0:40
Adam Prestidge
“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.”Alaska Legislature: Senate Finance - June 16, 2026 9:00am · Jun 16, 2026
0:14
Adam Prestidge
“The 2060 is a timeline that sets out a few years for construction period followed by 30 years of operations and 30 years of debt service payments.”Alaska Legislature: Senate Finance - June 16, 2026 9:00am · Jun 16, 2026
0:18
Adam Prestidge
“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.”Alaska Legislature: Senate Finance - June 16, 2026 9:00am · Jun 16, 2026
0:49
Adam Prestidge
“when the financing sources are looking to put money into pay for the construction of the project, they're going to be taking the most conservative forecast of the cost of the project and the financial burdens on the project. And so if there's any possibility that after a period of time the tax rate would revert back to 20 mils, that's what lenders and investors would assume will happen because they'll take the most conservative view. And so that's the reason why the 2060 date is is so important.”Alaska Legislature: Senate Finance - June 16, 2026 9:00am · Jun 16, 2026
0:53
Dan Stickel
“it's a 20 mils tax or 2% of assessed value, and that assessment is done centralized by the State Department of Revenue. We manage the appraisal and assessment process for all oil and gas property in the state, and then any municipal oil and gas property taxes are allowed as a credit against that state tax.”Alaska Legislature: Senate Finance - June 15, 2026 1:30pm · Jun 15, 2026
0:42
Bert Stedman
“I don't want to get personally lost into big dollars if the whole project is built and it's full of gas and everything's wonderful. I think we should be concentrating on the economic of the project and trying to see how close we are to the hurdle rate to get it to FID or not.”Alaska Legislature: Senate Finance - June 15, 2026 1:30pm · Jun 15, 2026
0:20
Jesse Kiehl
“through some of my history, both here in the Capitol and in municipal government, it's pretty good we know what it means is never good enough on tax law. You have to have the words on the paper.”Alaska Legislature: Senate Finance - June 15, 2026 1:30pm · Jun 15, 2026