Enstar wants to take over the project last estimated to cost $10 billion. But its own chief executive acknowledges that the pipeline isn’t viable without multi-billion-dollar subsidies from the state.
either a new, floating storage unit or repurposing an existing LNG export facility on the Kenai Peninsula to accommodate imported LNG shipments.Chugach executives say they expect their need for LNG imports will be temporary, as they move from a system that generates 80% of its power with natural gas to one that depends mainly on hydroelectric, solar and wind projects.
“TriSummit Utilities believes Enstar has growth potential and intends to work closely with Enstar management to invest and support economic growth in the region,” the company said. Sims, in a follow-up message, would not rule out the possibility that Enstar would propose or advocate for a Permanent Fund investment in the in-state pipeline.
The chair of the Permanent Fund’s board of trustees, Ethan Schutt, said he thinks the in-state pipeline is “the best long-term solution to our energy supply problem.” But the project should be paid for with state bonds, not the Permanent Fund, he added.
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