IncSmart Alaska (Small Business and Startups) -
Alaska and China's largest state oil company Sinopec,
sign a natural gas pipeline deal. The agreement was signed as both U.S. President Donald Trump and Chinese President Xi Jinping. The estimated investment for project would be $43 billion. This new pipeline would rival the trans-Alaska oil pipeline.
Construction will start in late 2018 or following year. The completion goal for the pipeline to operational by 2024 or 2025. Sinopec and the Bank of China have already visited operations the North Slope and Anchorage. The state owned Alaska Gasline Development Corporation will retain majority ownership. The new pipeline project will bring jobs, investment, it would transport the natural gas 800 miles to the coast on the Kenai Peninsula. There it will be liquefied and shipped to Asia. The unemployment rate in Kenai is 7.7%.
By IncSmart Staff Writer
Starting a Business in Alaska
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