Pam Throop

Fairbanks Economic Development Corp.

The Interior Gas Utility has completed its nearly $60 million purchase of Pentex Alaska and its subsidiary, Fairbanks Natural Gas. The IGU board of directors last week approved the purchase, as did the board of the Alaska Industrial Development and Export Authority, or AIDEA, which until last week owned Pentex and its natural-gas liquification plant at Point MacKenzie.

Pentex Natural Gas Co.

Updated: The Interior Gas Utility board of directors this morning unanimously approved an agreement to further explore an offer by a Cook Inlet natural gas-supplier. IGU’s top executive says the company has proposed to provide gas to the utility at a better price with a longer-term contract than the present arrangement with Anchorage-based Hilcorp. But that’s about all the utility’s officials would say about the proposal.


APRN file photo

The Interior Gas Utility board of directors agreed Tuesday to review a proposal to develop an another source of natural gas for its Fairbanks-area customers, in addition to its existing arrangement to bring Cook Inlet gas into the Interior.

Interior Gas Utility

In its first regular meeting of the new year, the Interior Gas Utility board of directors approved a budget Tuesday to finance operations for the remainder of the fiscal year, swore-in a new member and elected a new chairperson and slate of officers.


Tim Ellis/KUAC

The Interior Gas Utility’s board of directors approved a nearly $60 million deal Tuesday to buy Pentex Alaska and its natural gas processing, storage and transportation assets. The board’s vote is the first step toward the IGU’s $346 million plan to buy and build a gas utility for the Fairbanks area. The deal now awaits final approval by the Alaska Industrial Development and Export Authority’s board of directors.