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ConocoPhillips to sell Kenai liquefied natural gas plant

November 18, 2016

KENAI, Alaska (AP) — ConocoPhillips is looking to sell its Cook Inlet natural gas plant.

The Houston-based energy company on Thursday announced that it is putting its Kenai LNG plant up for sale, Alaska’s Energy Desk reported (http://bit.ly/2eNiCUp).

ConocoPhillips spokeswoman Amy Burnett said the company wants to focus on operations in the North Slope.

“Our efforts to market the plant are consistent with our company’s efforts to regularly review our assets to ensure we are optimizing our portfolio,” Burnett said. “We believe the plant is a strategic asset that offers good opportunities for the right buyer.”

The plant operated for six months in 2015 and Burnett said the plant has not exported gas in 2016 because of market conditions but it is still operational and could start exporting again.

The Kenai plant, which includes a dock and loading facility, was the only export facility of domestic liquefied natural gas in North America for nearly 50 years.

This is the second year ConocoPhillips has looked to sell Cook Inlet assets. In 2015, it put its natural gas production assets up for sale. Hilcorp purchased ConocoPhillips’ North Cook Inlet field in late October.

The company also sold its stake in the Beluga gas field to the city of Anchorage earlier this year.


Information from: KTOO-FM, http://www.ktoo.org

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