The Alaska State Legislature's House Resources Committee convened on April 9, 2025, to discuss significant developments regarding energy projects in the state, particularly focusing on a proposed investment of $150 million by Lehi Farr to support ongoing initiatives.

The meeting began with a query from Miss Weese about the commitment from Lehi Farr, seeking clarification on whether the company had indeed agreed to provide the full $150 million. Matt Kissinger confirmed that the commitment was in place, emphasizing that the funds are essential for advancing the project to a Final Investment Decision (FID). He noted that while the estimated cost is $150 million, it could potentially exceed that amount depending on further assessments.

A key point of discussion was the timeline for project milestones, with Representative Fields pressing for details on when Lehi Farr would put private risk on the table. Kissinger acknowledged that there are indeed milestones, but specifics remained confidential due to the sensitive nature of the agreements. This confidentiality was reiterated when Representative Hall inquired about the reasons behind the secrecy, with Kissinger explaining that revealing such information could invite opposition from detractors.

The conversation also touched on the involvement of Goldman Sachs, which had recommended Lehi Farr as a preferred partner for the project. Kissinger clarified that Goldman Sachs had vetted Lehi Farr and included them in their list of target investors, which was shared with the Alaska Gasline Development Corporation (AGDC) in early 2024.

As the meeting progressed, concerns were raised about the implications of the project's timeline on other energy initiatives in Alaska. Representative Mears highlighted the urgency for clarity on the delivery of gas, noting that delays could hinder other critical projects and exacerbate existing energy supply issues in the state.

Kissinger assured the committee that an indicative timeline would be provided, with the next major milestone being the FID for the pipeline, expected to be announced in April. The discussions underscored the interconnectedness of energy projects in Alaska and the pressing need for timely decisions to ensure the state's energy future.

In conclusion, the meeting highlighted the critical financial commitments and timelines associated with the energy project, while also addressing the challenges posed by confidentiality and the need for transparency to facilitate other energy developments in Alaska. The committee plans to continue monitoring progress and will provide updates as more information becomes available.