The Alaska Industrial Development and Export Authority’s board of directors on Thursday approved selling Pentex Alaska Natural Gas Company and its assets, including Fairbanks Natural Gas, to the Interior Gas Utility.
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.
About 60 people showed up Thursday night to tell the Interior Gas Utility’s board of directors what they think about the IGU’s proposed $331 million deal to launch and operate a public natural-gas utility. Those who spoke expressed a range of opinions that gave board members a lot to think about as they prepare for a critical vote on the deal Tuesday.
The Interior Gas Utility’s general manager and board chairman held the first of two sessions Tuesday intended to help the public understand the IGU’s $59.5 million proposal to buy Pentex Alaska LNG Co., the parent company of Fairbanks Natural Gas and its LNG-processing and storage facilities in Southcentral. The IGU board is scheduled to vote on the deal on Dec. 5.
Three candidates seeking election to an open seat on the Interior Gas Utility board all agree it’s taken far too long to bring natural gas into the Fairbanks area. All three say if elected they’d push to accelerate the IGU’s efforts to bring gas here and build a system to deliver gas to its customers.