ANCHORAGE - Pantheon Resources plc, an oil and gas company with operations in Alaska, has acknowledged the Alaska Gasline Development Corporation's (AGDC) recent move to secure an exclusive Framework Agreement with a private entity for the Alaska LNG project. The agreement, announced on Monday, is a significant step toward the development of the state's liquefied natural gas resources.
AGDC President Frank Richards, together with Alaska Governor Mike Dunleavy, made the announcement at an energy conference in Anchorage. This development is seen as pivotal in advancing the Alaska LNG project, which aims to provide long-term energy security for Alaska.
Pantheon Resources, which is listed on the AIM market of the London Stock Exchange (LON:LSEG) and trades on the OTCQX under the ticker PANR:PTHRF, is positioned to become a key player in the project. The company had previously signed a Gas Supply Precedent Agreement with AGDC in June 2024, agreeing to supply natural gas to the pipeline under a definitive gas sales agreement, which is still to be finalized.
David Hobbs, Executive Chairman of Pantheon Resources, expressed his satisfaction with the progress made by AGDC and its team. He emphasized the importance of the Alaska LNG project for the state's energy future and highlighted the company's readiness to contribute to the project's initial phase and its eventual completion.
The Alaska LNG project is expected to involve the construction of a gas pipeline as part of its first phase, followed by the full development of the liquefaction and export facilities necessary to commercialize Alaska's vast natural gas resources.
The announcement is based on a press release statement and reflects the ongoing collaboration between the AGDC and Pantheon Resources, as well as other stakeholders, to bring the Alaska LNG project to fruition. This development marks a significant milestone for the state's energy infrastructure and for Pantheon Resources as it looks to expand its role in the energy market.
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