Alaska courts Asia for LNG options

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JUNEAU, Alaska, Dec. 11 (UPI) -- Officials in Alaska said they met with South Korean executives to review prospects for Asian exports of liquefied natural gas.

Alaska Gov. Sean Parnell met with Kangsoo Choo, the top executive at Korea Gas Corp., or KOGAS, to discuss LNG prospects.

"These efforts are critical because an Alaska project must compete with other large-scale LNG projects under development around the world," Parnell said in a statement.

"We have stability and reliability working in our favor and a vast untapped supply, yet we must remain aware of proposed projects in other areas with access to the Pacific Rim."

The governor's office said energy companies working in the state, along with TransCanada Corp., are working to commercialize the natural gas reserves in the state's North Slope. KOGAS is the largest purchaser of LNG in the world.

Parnell announced last week the state would support North Slope LNG ambitions with $355 million in financing. The financing would support trucking for the 400-mile trek from the North Slope to regasification plants near Fairbanks.

Parnell said trucking LNG was the best option for Alaska, saying pipeline options are "some years away."