In another important step forward for the Alaska LNG project, an
application to export liquefied natural gas (LNG) was submitted to
the U.S. Department of Energy.
The export application requests authorization to export up to 20
million metric tons per year of LNG for a period of 30 years to
countries that have existing free trade agreements with the U.S.,
as well as to non-free trade agreement countries.
“This is a significant milestone for the Alaska LNG project and
demonstrates continued progress toward developing Alaska’s
resources,” said Steve Butt, senior project manager. “Filing of an
export application is a critical step in commercializing North
Slope natural gas.”
The Alaska LNG project would provide significant economic
benefits to Alaskans including state revenues, new job
opportunities and access to decades of domestically produced
natural gas for homes and businesses in Alaska.
According to a study by NERA Economic Consulting, submitted in
support of the application, the Alaska LNG project would have
“unequivocally positive” economic impacts in Alaska and the United
States. The Alaska LNG project is anticipated to create up to
15,000 jobs during construction and approximately 1,000 jobs for
operation of the project.
The proposed project facilities include: a liquefaction plant
and terminal in the Nikiski area on the Kenai Peninsula; an
800-mile, 42-inch pipeline; up to eight compression stations; at
least five take-off points for in-state gas delivery; and a gas
treatment plant located on the North Slope.
The Alaska LNG project participants are the Alaska Gasline
Development Corporation (AGDC) and affiliates of TransCanada, BP,
ConocoPhillips, and ExxonMobil. The project is now in the
pre-front-end engineering and design phase, which is expected to be
completed in 2016. For more information on Alaska LNG, visit
ak-lng.com.
EXXONMOBIL
CAUTIONARY STATEMENT
Estimates, expectations, and business plans in this release are
forward-looking statements. Actual future results, including
ultimate recoveries, actual export volumes, and project plans,
costs, and schedules, could differ materially due to changes in
market conditions affecting the oil and gas industry or long-term
oil and gas price levels; political or regulatory developments;
reservoir performance; timely completion of development projects;
technical or operating factors; and other factors discussed under
the heading "Factors Affecting Future Results" in the Investors
section of our website (www.exxonmobil.com) and in Item 1A of our
most recent Form 10-K. The term "project" as used in this release
does not necessarily have the same meaning as under SEC Rule 13q-1
relating to government payment reporting.
BP
CAUTIONARY STATEMENT
This release contains statements that are forward-looking
statements and involve risks and uncertainties. It is believed that
the expectations reflected in these statements are reasonable, but
actual results may differ from those expressed in such statements,
depending on a variety of factors, including: the specific factors
identified in the discussions accompanying such forward-looking
statements; industry product supply; demand and pricing; political
stability and economic growth in relevant areas of the world;
development and use of new technology and successful commercial
relationships; the actions of competitors; natural disasters and
other changes in business conditions; and wars and acts of
terrorism or sabotage.
CONOCOPHILLIPS
CAUTIONARY STATEMENT
This release includes forward-looking statements. These
statements relate to future events, such as anticipated revenues,
earnings, business strategies, competitive position or other
aspects of our operations or operating results or the industries or
markets in which we operate or participate in general. Actual
outcomes and results may differ materially from what is expressed
or forecast in such forward-looking statements. These statements
are not guarantees of future performance and involve certain risks,
uncertainties and assumptions that may prove to be incorrect and
are difficult to predict such as oil and gas prices; operational
hazards and drilling risks; potential failure to achieve, and
potential delays in achieving expected reserves or production
levels from existing and future oil and gas development projects;
unsuccessful exploratory activities; unexpected cost increases or
technical difficulties in constructing, maintaining or modifying
company facilities; international monetary conditions and exchange
controls; potential liability for remedial actions under existing
or future environmental regulations or from pending or future
litigation; limited access to capital or significantly higher cost
of capital related to illiquidity or uncertainty in the domestic or
international financial markets; general domestic and international
economic and political conditions, as well as changes in tax,
environmental and other laws applicable to ConocoPhillips’ business
and other economic, business, competitive and/or regulatory factors
affecting ConocoPhillips’ business generally as set forth in
ConocoPhillips’ filings with the Securities and Exchange Commission
(SEC). We caution you not to place undue reliance on our
forward-looking statements, which are only as of the date of this
presentation or as otherwise indicated, and we expressly disclaim
any responsibility for updating such information.
Use of non-GAAP financial information – This presentation may
include non-GAAP financial measures, which help facilitate
comparison of company operating performance across periods and with
peer companies. Any non-GAAP measures included herein will be
accompanied by a reconciliation to the nearest corresponding GAAP
measure in an appendix.
Cautionary Note to U.S. Investors – The SEC permits oil and gas
companies, in their filings with the SEC, to disclose only proved,
probable and possible reserves. We use the term "resource" in this
presentation that the SEC’s guidelines prohibit us from including
in filings with the SEC. U.S. investors are urged to consider
closely the oil and gas disclosures in our Form 10-K and other
reports and filings with the SEC. Copies are available from the SEC
and from the ConocoPhillips website.
TRANSCANADA
FORWARD LOOKING INFORMATION
This publication contains certain information that is
forward-looking and is subject to important risks and uncertainties
(such statements are usually accompanied by words such as
“anticipate”, “expect”, “would”, “believe”, “may”, “will”, “plan”,
“intend” or other similar words). Forward-looking statements in
this document are intended to provide TransCanada security holders
and potential investors with information regarding TransCanada and
its subsidiaries, including management’s assessment of
TransCanada’s and its subsidiaries’ future financial and
operational plans and outlook. All forward-looking statements
reflect TransCanada’s beliefs and assumptions based on information
available at the time the statements were made and as such are not
guarantees of future performance. Readers are cautioned not to
place undue reliance on this forward-looking information, which is
given as of the date it is expressed in this news release, and not
to use future-oriented information or financial outlooks for
anything other than their intended purpose. TransCanada undertakes
no obligation to update or revise any forward-looking information
except as required by law. For additional information on the
assumptions made, and the risks and uncertainties which could cause
actual results to differ from the anticipated results, refer to
TransCanada’s Quarterly Report to Shareholders dated May 1, 2014
and 2013 Annual Report on our website at www.transcanada.com or
filed under TransCanada’s profile on SEDAR at www.sedar.com and
with the U.S. Securities and Exchange Commission at
www.sec.gov.
ALASKA GASLINE DEVELOPMENT CORPORATION
CAUTIONARY STATEMENT
As an instrumentality of the State of Alaska, the Alaska Gasline
Development Corporation (AGDC) is not subject to oversight by the
U.S. Securities and Exchange Commission. However, AGDC notes that
all forward-looking statements reflect AGDC’s beliefs and
assumptions based on information available at the time the
statements were made and as such are not guarantees of future
performance. Readers are cautioned not to place undue reliance on
this forward-looking information, which is given as of the date it
is expressed in this news release, and not to use future-oriented
information or financial outlooks for anything other than their
intended purpose. AGDC undertakes no obligation to update or revise
any forward-looking information except as required by law.
Alaska Gasline Development CorporationMiles Baker,
907-330-6360Mbaker@agdc.comorConocoPhillips AlaskaNatalie Lowman,
907-263-4153n.m.lowman@cop.comorTransCanada Media RelationsShawn
Howard, 800-608-7859orBP Press
Office907-564-5143/907-301-8726Dawn.Patience@bp.comorExxonMobil
Media RelationsKim Jordan,
832-624-3780Kimberly.a.jordan@exxonmobil.com
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