JUNEAU, Alaska (AP) — ConocoPhillips and Marathon Oil Corp. plan to shut down the Kenai liquefied natural gas plant in Alaska after more than 40 years in operation.
Officials cite deterioration in the LNG market for the decision.
Exports from the plant went to Japan. Tokyo Electric Power Company Inc. had a purchase agreement slated to end next month. A Marathon official told The Associated Press that contract was not renewed.
Officials for both companies said they wanted to focus on supplying gas to the local market in south-central Alaska. The plant had been exporting surplus gas.
Dan Clark, manager of Cook Inlet assets for ConocoPhillips Alaska said exports would likely cease by April or May and that the process of mothballing the plant would then begin. He said that process could take months.
Read the entire story in Thursday's Peninsula Clarion.
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