AIDEA outlines energy and asset investments: IGU LNG deliveries, methanol plant financing, and shipyard expansion
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Summary
AIDEA told the Senate committee its Interior Gas Utility program is delivering North Slope LNG to Fairbanks, financed a North Slope methanol/diesel plant with a construction loan converting to a long-term secured loan and royalty, and reported shipyard operator transition boosting local workforce.
Juneau
AIDEA officials updated the Senate State Affairs Committee on Jan. 15 about energy and asset projects across the state, including North Slope methanol production, Cook Inlet gas support, and maritime facilities.
Johns described the Interior Gas Utility (IGU) initiative to expand LNG supply and distribution in the Fairbanks North Star Borough and North Pole. AIDEA said it provided roughly $139 million through its sustainable energy transmission and supply program; the first North Slope LNG deliveries began in October 2025 and regular truck deliveries started in December 2025, averaging about 70,000 gallons per day. Johns said the IGU now serves approximately 3,600 customers with a distribution system exceeding 230 miles.
On the North Slope, AIDEA described closed financing for the "Alyeskam" plant (near Deadhorse) anticipated to produce ~750 barrels/day of methanol and 1,300—1,400 barrels/day of ultra-low-sulfur diesel. AIDEA said its financing began as a construction loan up to $70 million that will convert to a roughly $50 million senior secured term loan plus a $20 million loan retirement/royalty component and that a price-per-gallon royalty would apply for up to 50 years.
AIDEA also said it closed and funded the first draw on a $50 million revolving credit facility to support drilling and production for HECS (Fury Operating Alaska) to stabilize Cook Inlet natural gas supply; HECS's publicly reported production share is ~7.5% with management targeting above 10% if additional development succeeds.
In Ketchikan, AIDEA transitioned shipyard operations to JAG Alaska (JAG Marine Group) in September 2025. Johns said the workforce grew from about 15 to roughly 150 on site and there is a strong backlog of work for the next 18—24 months, with training pipelines being developed for maritime trades.
AIDEA additionally described revenue-producing assets: the FedEx MRO facility at Ted Stevens Anchorage International Airport (generating about $1.7M/year and supporting 50—60 maintenance jobs) and a Coast Guard building at Joint Base Elmendorf-Richardson (producing about $1M/year in payments to AIDEA through 2043).
Other project financing mentioned included a portion of a $45M loan to expand the Blood Bank of Alaska's testing facility and a $30M-plus financing package for Hoonah Totem Corporation's Icy Strait Point phase 2 development (floating dock and welcome center), which supports seasonal cruise visits and local jobs.
What happens next: Committee members asked clarifying questions; AIDEA said construction and commissioning timelines are on schedule for projects with mechanical completion forecasts and that staff would provide requested follow-up information.
