Video Clips
Quoted moments from Alaska public meetings, hearings, and press conferences.
Clips from Alaska State SenateClear
1:06
Adam Prestidge“the 2 mills 2 mils is a concept that was first introduced by Wood Mackenzie and other— and Gas Strategies and other consultants to AGDC quite some time ago, and it was an assumption that went into our ability to commit to a $16 price cap. And so I don't see that there was a commitment to $16 at any time before we had an assumption that was based on 2 mils.”
Alaska Legislature: Senate Finance - June 15, 2026 1:30pm · Jun 15, 2026
0:49
Adam Prestidge“one of the benefits, one of several benefits that we see with the alternative volumetric tax is that it is calculated based on a reportable throughput on the pipeline that is then calculated by multipliers, and there's no value— there's no question of valuation applied to that. And so what that means is that we avoid, for all parties involved, the potential for litigation over what is the value of this property over the decades to come.”
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
0:37
Dan Stickel“we certainly have produced the Phase 1 analysis and will be happy to provide that for the version of the bill that passed out of the House. And we do have extremely detailed model assumptions document. Provide that to the committee, and then I think we can go from there on providing any additional information that would be helpful and any additional sensitivities the committee would like to see. We'll go ahead and get that information. We'll see where we can slide that into our hearing schedule.”
Alaska Legislature: Senate Finance - June 15, 2026 1:30pm · Jun 15, 2026
0:40
Bert Stedman“if nothing else for us to, you know, nice to have a hearing on it, but to take a look at it, I think it's critical that we know if we give a concession with our left hand, it's not taken away with some mechanism on the right hand. And how much of a concession is needed to get it to the economic hurdle? And maybe it's zero tax, for all I know. But I think we need to see that on Phase 1, because that's what they're trying to get the FID on, is my understanding.”
Alaska Legislature: Senate Finance - June 15, 2026 1:30pm · Jun 15, 2026
0:22
Bert Stedman“isn't there a timing difference between when the $0.16 was agreed to and when the concept of the volumetric tax numerics were put in play, like a couple of months difference in time?”
Alaska Legislature: Senate Finance - June 15, 2026 1:30pm · Jun 15, 2026
0:46
Adam Prestidge“this tax structure, the alternative volumetric tax, has the benefit of creating alignment. And so the more, the more gas that flows on the pipeline, the greater the revenue to, to the state. The more gas that flows on the pipeline, the lower the cost of gas to the ratepayers.”
Alaska Legislature: Senate Finance - June 15, 2026 1:30pm · Jun 15, 2026
0:43
Dan Stickel“given the time and resource constraints with a special session that ends in 4 days, we have maintained our baseline model assumptions at this point.”
Alaska Legislature: Senate Finance - June 15, 2026 1:30pm · Jun 15, 2026
1:14
Dan Stickel“Property tax revenue to the state would be estimated at $24 million initially in 2029, ramping up to $239 million by 2033, which is when the full export operations begin and the project construction is completed. And then the municipal revenues, in addition to those state revenues, would start at $50 million initially in 2029, ramping up to $497 million in 2033. So all told, you have a little over $700 million per year of property tax revenue that would come just from the AK LNG project to the state and municipalities if the project were to proceed under current law.”
Alaska Legislature: Senate Finance - June 15, 2026 1:30pm · Jun 15, 2026
0:20
Dan Stickel“each additional mil of equivalent mil rate on the full project would be equivalent to about 5 cents of AVT revenue.”
Alaska Legislature: Senate Finance - June 15, 2026 1:30pm · Jun 15, 2026
0:52
Adam Prestidge“that price cap, that commitment that we can get this project done with a cap on the price at $16, is an extraordinary commitment. It is a commitment that we're able to make on the basis of how 381 was put together. If there were a significant change to the tax structure, for example, going from 2 mils to 3 mils would be a 50% increase on the tax burden as set out in HB 381. That would really put in— that would really challenge our ability to maintain that $16 price cap.”
Alaska Legislature: Senate Finance - June 15, 2026 1:30pm · Jun 15, 2026
0:44
Bert Stedman“what we're being asked for is concessions, and I want to know what we actually gain, whatever concession we give, not looking at hypotheticals 30 years out. We're trying to get a financing package across the line, is my understanding. Otherwise, why would we give a concession?”
Alaska Legislature: Senate Finance - June 15, 2026 1:30pm · Jun 15, 2026
0:28
Bert Stedman“I'm kind of curious when the corporate income tax kick in on the gas line. You know, I think it's somewhere around 20, 21 years out, which means it's time you deal with your depreciation and your interest costs and your carry-forwards. It's not making any money for decades.”
Alaska Legislature: Senate Finance - June 15, 2026 1:30pm · Jun 15, 2026
0:34
Dan Stickel“we calculate based on our, our assumptions that the effective rate would be somewhere between 10 and 11 cents per 1,000 cubic feet.”
Alaska Legislature: Senate Finance - June 15, 2026 1:30pm · Jun 15, 2026
0:08
Bert Stedman“I think the model has all that. It's got to have all that data in there to just print it out. It doesn't have to be fancy looking.”
Alaska Legislature: Senate Finance - June 15, 2026 1:30pm · Jun 15, 2026
0:19
Bert Stedman“We can't control capital cost or operating costs. Or much other variables. We have very few levers we can move. But we can make that 1 mil equivalent, 2 mil equivalent, 3 mil, 4 mil, 5 mil, whatever we want.”
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
1:08
Bert Stedman“I think 2 mils of our 2% of $16 billion is somewhere around $320 million. So I just need to, I guess, get some of these numbers adjusted. And I'd rather, Mr. Chairman, have us look at the aggregate dollars and going to the state, and then if there's a split to the municipalities like we do with our oil tax, we look at the whole, you know, the portion that goes to each borough and then a portion that goes to the state. But if we don't use the aggregate dollar amount, we get our tax modeling off.”
Alaska Legislature: Senate Finance - June 15, 2026 1:30pm · Jun 15, 2026
0:55
Bert Stedman“The issue at the table is the gas line. And what would be nice if we could see an analysis on the gas line itself and also the marginal impact of the change in property tax from the 20 mills to, you know, the— to the 2 mills, which is basically what's on the table.”
Alaska Legislature: Senate Finance - June 15, 2026 1:30pm · Jun 15, 2026
0:37
Bert Stedman“I would suggest that on the interest rate you use, not something below 5, but use the government bond rate.— as a base. I think the Department of Energy was talking about 20-year bond rate plus 3/8 and then step it up.”
Alaska Legislature: Senate Finance - June 15, 2026 1:30pm · Jun 15, 2026
0:18
Bert Stedman“I'd like to know the marginal impact of a 1 millage rate change. You got 2.13 mills here. If you change that assumption in your model to make that 3.13 mills, what's the effect of the economics of the project?”
Alaska Legislature: Senate Finance - June 15, 2026 1:30pm · Jun 15, 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
0:29
Bert Stedman“Frankly, when I look at this bill and I see 2 mills, I find that alarmingly low. If I could pay 2 meals for my house, I'd run down to City Hall with a Christmas card to the mayor.”
Alaska Legislature: Senate Finance - June 15, 2026 1:30pm · Jun 15, 2026
0:57
Dan Stickel“we look at, under our baseline modeling, 2031 is the first year of exports when the first train comes online, and that would be the first year of tax liability for the alternative volumetric tax with a total of $39 million paid in, and that would increase to $131 million by 2033, which would be the first year of the full export operations. Under this version of the bill, the state would receive about 9% of the total AVT revenue, with the remainder allocated to the various municipalities and communities as outlined in this bill.”
Alaska Legislature: Senate Finance - June 15, 2026 1:30pm · Jun 15, 2026
0:15
Bert Stedman“I think there's a couple months difference in when the 16 cents was in play and when the concept of the effective 2 mil tax rate was put on the table or put in play.”
Alaska Legislature: Senate Finance - June 15, 2026 1:30pm · Jun 15, 2026
0:21
Bert Stedman“I'd like to know the operating expense of the pipeline. I'd like to know the operating expense of the liquefaction plant, um, and some of these other component parts, um, that you have to plug in your model.”
Alaska Legislature: Senate Finance - June 15, 2026 1:30pm · Jun 15, 2026
0:35
Peter Micciche“Next door neighbors and all Nokiski taxpayers pay approximately 9 mills for their homes and businesses as partners and contributors to KPB services. The LNG liquefaction facility and marine terminal is expected to cost between $23.6 and $28.4 billion. At 9 mills, AKLNG would be paying between $212 and $215 million annually.”
Alaska Legislature: Senate Finance - June 10, 2026 1:30pm · Jun 10, 2026
0:35
Alexi Painter“the total AVT collection projected by DOR in that year is $124 million. The state would receive $15 million of that on behalf of the unorganized borough. The municipalities would receive $109 million of that. Most of that is going to the Kenai Peninsula Borough, $55 million, and the North Slope Borough, $40 million”
Alaska Legislature: Senate Finance - June 10, 2026 1:30pm · Jun 10, 2026
0:23
Peter Micciche“I currently have the statutory right under Title 29 to negotiate a deal. If you take that right away, please make sure you protect our community from harm.”
Alaska Legislature: Senate Finance - June 10, 2026 1:30pm · Jun 10, 2026
0:47
Alexi Painter“it creates Chapter 59 in Title 43. And so the next few slides will use references within Section 18 because that's a very substantive section. So the new Chapter 4359.010 provides a tax abatement, so no taxes at all until the earlier of 500 MCF of daily average throughput for a 30-day period or 5 years after the commencement of commercial operations.”
Alaska Legislature: Senate Finance - June 10, 2026 1:30pm · Jun 10, 2026
0:40
Alexi Painter“AB 4359-030 provides the municipalities will directly collect the tax for the portion of the project property that's located in that municipality, weighted again by the capital costs.”
Alaska Legislature: Senate Finance - June 10, 2026 1:30pm · Jun 10, 2026
0:12
Peter Micciche“We always knew that property tax discussions had to occur. Wish they'd started earlier. They didn't. That's water under the bridge. But the original governor's bill left us woefully short on the Kenai.”
Alaska Legislature: Senate Finance - June 10, 2026 1:30pm · Jun 10, 2026
1:00
Peter Micciche“We've collected the data on approximate cost for solid waste, general government, education, roads, fire, EMS, hospitals, recreation, regulatory, municipal tasks that are requirement of AKLNG's 49 CFR Part 192 and 193 permitting, um, U.S. Coast Guard Marine Terminal Response Plans. We know there will be capital cost training like fire and EMS equipment upgrades.”
Alaska Legislature: Senate Finance - June 10, 2026 1:30pm · Jun 10, 2026
1:06
Alexi Painter“revenue begins in FY '31 with just the in-state portion, and then going as the export begins, this higher number.”
Alaska Legislature: Senate Finance - June 10, 2026 1:30pm · Jun 10, 2026
0:32
Peter Micciche“I'm here to fight for enough. Not for a lot, but for enough. I placed my hand on the Bible for 62,000 souls that call the Kenai home and to ensure that we receive enough so that senior citizens and families from Nikiski are not covering the cost or subsidizing a giant global project.”
Alaska Legislature: Senate Finance - June 10, 2026 1:30pm · Jun 10, 2026
0:37
Peter Micciche“It is nearly 9 times the footprint and 13 times the production capacity of similar projects the small community has experienced in the past. It's a large project. It will require the relocation of our highway since two-thirds of the facility footprint is located on the east side of the highway, one-third on the west side of the highway, the inlet side.”
Alaska Legislature: Senate Finance - June 10, 2026 1:30pm · Jun 10, 2026
0:32
Peter Micciche“We have the lowest mill rate of any other 4356 community at approximately 9 mills.”
Alaska Legislature: Senate Finance - June 10, 2026 1:30pm · Jun 10, 2026
0:30
Peter Micciche“42.7% Of the value of this project will be located in the Kenai Peninsula Borough. 900 Acres, 3 liquefaction trains, 2 240,000 cubic meter storage tanks, terminal facilities, 2 berths in Cook Inlet, moving up to 2.5 BCF a day, which means a ship or 2 will always be present. This project will nearly double the population in Akiski for 4 years during construction.”
Alaska Legislature: Senate Finance - June 10, 2026 1:30pm · Jun 10, 2026
0:45
Alexi Painter“For Phase 2, your annual AVT revenue would be 8 cents times 500,000 times 365 plus 10 cents times 2.5 million times 365, and that's $107.3 million. And so that's roughly with that higher end cost estimate, that's a mill rate of about 1.97 mills.”
Alaska Legislature: Senate Finance - June 10, 2026 1:30pm · Jun 10, 2026
0:44
Alexi Painter“The rate for the AVT is a blend of multiple rates, weighted by the capital expenditure weight of each category. So there's a 6 cents per MCF rate for the pipeline component. That's Phase 1. And then there is a 12-cent per MCF rate for the gas treatment plant and carbon capture facility component, which is part of Phase 2, and then a 12-cent per MCF tax component for the LNG plant.”
Alaska Legislature: Senate Finance - June 10, 2026 1:30pm · Jun 10, 2026
0:36
Peter Micciche“You have the choice in your hands between Alaskans like the folks on the Kenai holding the bag for 2 generations or enough in local taxes to provide for a healthy 30-plus-year partnership absent of local taxpayer subsidies.”
Alaska Legislature: Senate Finance - June 10, 2026 1:30pm · Jun 10, 2026
0:17
Peter Micciche“At the 12 cents plus the community impact fund in the House version, the project will be paying in the low to mid-30% range of all other Nikiski taxpayers. Approximately a 70% reduction. That's okay. 90% Was too much. 70 Is in the ballpark.”
Alaska Legislature: Senate Finance - June 10, 2026 1:30pm · Jun 10, 2026
0:19
Alexi Painter“The tax rate grows theoretically with CPI each year, but it can't grow less than 1% or more than 2%. So very narrowly bounded within that after that first initial year. And the payments are made monthly like the oil and gas production tax, not annually like the existing property tax.”
Alaska Legislature: Senate Finance - June 10, 2026 1:30pm · Jun 10, 2026
0:42
Peter Micciche“As noted by Northern Economic Study, we're by far the most proportionally affected community on the project and the only community that will be living with this giant active facility in a small town and on our coast for the next half century.”
Alaska Legislature: Senate Finance - June 10, 2026 1:30pm · Jun 10, 2026
0:47
Peter Micciche“As partners in the industry willing to support gas and much-needed commerce for Alaskans, we can make that work. I can look my constituents in the eye and explain with a high level of confidence that it will cover our costs in spite of the inevitable surprises we will find going forward.”
Alaska Legislature: Senate Finance - June 10, 2026 1:30pm · Jun 10, 2026
0:41
Alexi Painter“Alaska statutes currently provide the municipalities must contribute the lesser of 2.65 mills of real and personal property or 45% of prior year basic need to schools.. And this section exempts all the property that's getting the AVT or the moratorium— tax moratorium before the AVT kicks in from that required local contribution.”
Alaska Legislature: Senate Finance - June 10, 2026 1:30pm · Jun 10, 2026
0:37
Peter Micciche“Through all that history and a mix of onshore large facility Title 29 and offshore and pipeline infrastructure 4356 property taxes, no one's ever discussed— began the discussion with a 90% reduction. That's okay. Things change, and every commercial situation has very different tax economic challenges.”
Alaska Legislature: Senate Finance - June 10, 2026 1:30pm · Jun 10, 2026