Video Clips

Quoted moments from Alaska public meetings, hearings, and press conferences.

Clips from Alaska Gasline Development CorporationClear

Bert Stedman

“on this amendment, the rate would be the highest in the country for states that don't have income tax. I think the other one is maybe 7% range or something like that, and this is a little over 9%.”

Alaska Legislature: Joint Conference on HB381, 6/27/26, 2PM · Jun 27, 2026

1:04

Adam Prestidge

“our suggestion is that instead of having a broad amendment that dictates a few high-level principles about project labor agreements, we could instead legislate into law a requirement that the PLAs entered into will be substantially consistent with the binding MOU that was already executed between the project developer, between Glenfarm and the building trades councils.”

Alaska Legislature: Joint Conference on HB381, 6/27/26, 2PM · Jun 27, 2026

0:26

Bryce Edgmon

“why wasn't this analysis done with other states? 99 Days later. You know, why on behalf of Alaska's interests did we not do the benefits? Because when I see these numbers, Alaska's PT, Proposed Rate, of 9.4% essentially tower over what other states that have non-elective taxes.”

Alaska Legislature: Joint Conference on HB381, 6/27/26, 2PM · Jun 27, 2026

0:47

Bryce Edgmon

“I guess I'll circle back for a third time to either Mr. Prestidge or Mr. Mahoney. Is this about opposition to the tax itself or is this about the need to fix it?”

Alaska Legislature: Joint Conference on HB381, 6/27/26, 2PM · Jun 27, 2026

1:10

Adam Prestidge

“the scope of the amendment that was offered on the floor is very broad and doesn't reflect the careful discussion that the two parties worked on over the course of a 6-month negotiation and doesn't reflect the level of detail and complication that goes into labor planning for a mega project like this. And so I talked at the outset a little bit about the scope, how there are some exclusions. Most of the— a significant part of the project is allocated to be worked on by labor unions. The amendment that was proposed removes all of that and simply says all phases, all scopes, all contractors, all subcontractors must sign a PLA.”

Alaska Legislature: Joint Conference on HB381, 6/27/26, 2PM · Jun 27, 2026

0:32

Adam Prestidge

“On June 11th, uh, Glenn Fahren signed, executed, and announced a binding memorandum of understanding with the building trades councils from Fairbanks and Anchorage. And so, uh, what did that do? It set up a framework for future project labor agreements.”

Alaska Legislature: Joint Conference on HB381, 6/27/26, 2PM · Jun 27, 2026

0:48

Adam Prestidge

“Amendment 16 requires notification of any relationship with a foreign entity. That goes significantly beyond, beyond just ownership. It's really any contract, any joint venture, any type of agreement. That type of disclosure requirement would be unique and burdensome and would be a deterrent to counterparties potentially from wanting to be associated with the project, recognizing that they wouldn't have any commercial confidential protections.”

Alaska Legislature: Joint Conference on HB381, 6/27/26, 2PM · Jun 27, 2026

0:32

Adam Prestidge

“as it stands, Amendment 16 would really chill off-takers and investors in the project.”

Alaska Legislature: Joint Conference on HB381, 6/27/26, 2PM · Jun 27, 2026

0:28

Adam Prestidge

“if we take the example of some of the offsite fabrication that could be done internationally, paying Alaska prevailing wages at a fabrication yard in Korea, for just one example, doesn't make any sense and wouldn't be economically viable for the project.”

Alaska Legislature: Joint Conference on HB381, 6/27/26, 2PM · Jun 27, 2026

0:44

Dan Stickel

“the reason that we present that as indeterminate in terms of state impact is that we don't know for certain whether the project goes forward. So to say with certainty that we— that if you enact this provision, we will get X dollars of revenue for a provision that we don't know with certainty whether the project will go forward, we've built on assumptions which are uncertain, and then there's the uncertain impact of implementation implementing this policy on the project. And we have heard concern from industry that it would affect their investment decisions.”

Alaska Legislature: Joint Conference on HB381, 6/27/26, 2PM · Jun 27, 2026

0:47

Adam Prestidge

“Putting this pass-through entity tax in the place where it would assign the pass-through entity tax of 9% at the LNG LLC level would be a unique burden on any project finance vehicle. Typically a project finance vehicle is set up as a pass-through entity and the upstairs shareholders pay tax on that because— so that they can all invest under their different arrangements.”

Alaska Legislature: Joint Conference on HB381, 6/27/26, 2PM · Jun 27, 2026

0:58

Dan Stickel

“We estimated under our baseline modeling first payments of the pass-through entity tax of $29 million in 2036, increasing to $65 million in 2041 and up to $358 million by 2051”

Alaska Legislature: Joint Conference on HB381, 6/27/26, 2PM · Jun 27, 2026

0:53

Adam Prestidge

“Amendment 12 introduced Inflation language relating to the gas sales contracts from the pipeline to customers. Just to reiterate a bit of what we described earlier, this makes sense, but we'd suggest that it takes into account the inflation agreed between the project and the customer. That contract, of course, gets reviewed and approved by the RCA, and the project would not object to having a cap on that inflation of 3%. We just suggest that being US CPI, not Alaska CPI.”

Alaska Legislature: Joint Conference on HB381, 6/27/26, 2PM · Jun 27, 2026

0:35

Adam Prestidge

“It could be a little bit broader because force majeure is really kind of acts of God outside of the control of the project. There can be other delays to a project like this that wouldn't necessarily be picked up within a force majeure definition, such as archaeological finds or shipping delays. And so we'd advocate that it would be beneficial to the project to look at broadening that definition a little bit.”

Alaska Legislature: Joint Conference on HB381, 6/27/26, 2PM · Jun 27, 2026

0:42

Adam Prestidge

“having a bright line 15% requirement creates a lot— creates unworkable challenges for the project. First of all, there's no consideration in the amendment if there weren't available enough personnel to perform 15% of the hours as apprentices. It's just a flat requirement, 15% of the hours must be done by apprentices. And so the question would immediately come up, Well, if there weren't enough apprentices available to perform that much work, would we lose our tax eligibility?”

Alaska Legislature: Joint Conference on HB381, 6/27/26, 2PM · Jun 27, 2026

0:19

Adam Prestidge

“Representative Rutherford, through the chair, that's exactly correct. It's another reason why we would make the argument that this isn't necessary, because the bill already had a very clear requirement requiring a project labor agreement for the project.”

Alaska Legislature: Joint Conference on HB381, 6/27/26, 2PM · Jun 27, 2026

0:34

Adam Prestidge

“my understanding is that this was not requested by the labor representatives themselves. That's what I've been told. But that it was instead offered by legislators who were intending to be helpful and make sure that labor's requirements were being met. We think that labor requirements are being met”

Alaska Legislature: Joint Conference on HB381, 6/27/26, 2PM · Jun 27, 2026

0:38

Adam Prestidge

“This labor MOU was negotiated on a very careful, very intensive basis. A lot of time, a lot of meetings, a lot of people involved in a 6-month negotiation process to reach an agreement that worked for both sides.”

Alaska Legislature: Joint Conference on HB381, 6/27/26, 2PM · Jun 27, 2026

0:56

Adam Prestidge

“we'd be fully supportive of taking an additional step to have the bill, the legislation, require that the project establish an apprenticeship program that is consistent with industry standards and would be negotiated between the project and the appropriate labor unions”

Alaska Legislature: Joint Conference on HB381, 6/27/26, 2PM · Jun 27, 2026

0:37

Adam Prestidge

“Senator Steadman, I don't think there's any question on the labor side that this is a binding agreement. I think there was confusion or there was a concern that others out there thought that it wasn't, but I certainly believe that they agree that it's binding, want it to be binding. We feel the same way. It just seems that unfortunately some have interpreted it based on those headlines as non-binding, and that might be why some legislators thought it would be helpful to insert this amendment.”

Alaska Legislature: Joint Conference on HB381, 6/27/26, 2PM · Jun 27, 2026

0:31

Adam Prestidge

“Amendment 3 provided force majeure allowance, basically that if there is a date, a deadline for the project, it can be reasonably extended by the Department of Revenue Commissioner in the event of a force majeure. That is a helpful addition. It is good for the project.”

Alaska Legislature: Joint Conference on HB381, 6/27/26, 2PM · Jun 27, 2026

1:28

Adam Prestidge

“Amendment 14, uh, um, Summarizing, relates to the state's clawback option, which we discussed at some length in the hearing yesterday. It basically takes the carefully negotiated arrangement between Glenfarm and AGDC and removes all of the, I guess, the careful considerations around it and institutes an automatic reversion to the state with no compensation to, to the developer in the event that a milestone is lapsed. It's— we'd view that as extremely punitive to the project. Our legal counsel advises us that that could potentially qualify as an unconstitutional taking and potentially a violation of the Contracts Clause of the U.S. Constitution and would severely hinder the developer's ability and willingness to continue to operate in the state of Alaska.”

Alaska Legislature: Joint Conference on HB381, 6/27/26, 2PM · Jun 27, 2026

0:35

Adam Prestidge

“I can't speak to that. I've got the only— the same language as you, and that's certainly one of the types of details that I'd prefer to work out in a detailed discussion with the unions rather than having it settled in legislation.”

Alaska Legislature: Joint Conference on HB381, 6/27/26, 2PM · Jun 27, 2026

0:21

Adam Prestidge

“the language of the amendment says 15 hours— 15% of all hours across the project must be performed by apprentices. I want to be totally clear, we are fully supportive of having an apprenticeship program on the Alaska LNG Project. We think it's fantastic. We want to be part of building a workforce for Alaska.”

Alaska Legislature: Joint Conference on HB381, 6/27/26, 2PM · Jun 27, 2026