NEW YORK Exxon Mobil Corp., BP Plc, ConocoPhillips Co. and TransCanada Corp. have selected a site in the Nikiski area on the Kenai Peninsula in Alaska as the probable site for a liquefied natural gas (LNG) project that is expected to cost $45 billion to $65 billion or more, Exxon said on its website.
The project will include a gas treatment plant, an 800-mile, 42-inch pipeline with up to eight compression stations and at least five offtake points for in-state gas delivery and a liquefaction plant and terminal, although the companies are still refining the project concept, the company said.
"A successful project could provide a host of economic benefits to Alaskans, including state revenues, new job opportunities and access to decades of domestically produced natural gas for homes and businesses," Houston-based Exxon said.
However, it cautioned that "a number of engineering, technical, regulatory, fiscal, commercial and permitting issues still need to be resolved" before the project can proceed.
More than 20 locations were considered in the site selection process, according to Exxon.