Alaska’s Qilak LNG targets Asia with $5 bln project to compete with Russia

Qilak LNG plans to invest $5 billion in a proposed liquefied natural gas (LNG) facility in Alaska’s North Slope to compete with Russia’s Yamal project for Asian customers towards the end of this decade, its chief executive said.
Major LNG importers such as Japan, South Korea and Taiwan are rethinking Russian supplies after sanctions on Moscow after it invaded Ukraine and more natural gas could be needed to produce lower emission and alternative fuels as nations try to reduce their carbon emissions.
Qilak is 2,000 nautical miles (3,700 km) closer to Asian markets than its biggest competitor, the Novatek-led Yamal LNG in the Russian Arctic. The Alaskan projects aims to ship a LNG cargo to Asia in 14 days, about twice as fast as shipments from the U.S. Gulf Coast, Mead Treadwell, Qilak’s CEO and chairman, told Reuters in an interview this week.