ANCHORAGE, Alaska (AP) — China would receive 75 percent of the natural gas from Alaska’s North Slope if a pipeline is built under an agreement signed Thursday in Beijing.
Alaska Gov. Bill Walker signed the agreement with Sinopec, Bank of China and China Investment Corp. to advance a natural gas pipeline project. There’s no guarantee a pipeline will be built, but the agreement has given new life to a project Alaskans have wanted for decades to offset declining oil production from the North Slope.
If everything goes as planned, final agreements will be signed by the end of 2018 and the pipeline could be operational by 2024 or 2025.
Alaska would retain the remaining 25 percent to sell to regional markets in Asia, like Japan, South Korea and Vietnam.