Oil and gas company Marathon Petroleum said global instability is complicating its plans on the Kenai Peninsula.
Jason Feer, global head of business at Houston-based intelligence firm Potent and Partners, said Marathon is hardly the only business looking for cost-competitive natural gas. The war in Ukraine has created an unexpectedly high demand for it overseas.And that complicates Marathon’s plans to start importing gas to the facility, near Nikiski.of liquified natural gas — and, for five decades, the only one in North America.
And a year later, Marathon subsidiary Trans-Foreland Pipeline applied to turn that export facility into an import one. Federal regulators But in a filing last month, the company told regulators it doesn’t expect to finish the project by then, “despite good faith efforts to do so.” The imported liquified natural gas would likely be a source of fuel for Marathon’s own crude oil refinery, down the street, according to this and past filings.
Still, the company said in its letter to the feds that it is confident the project is commercially viable and that it’s looking for a supplier. “TransForeland has also been actively seeking suitable suppliers and is monitoring markets for LNG around the globe,” it said.
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