Independent U.S. refiner Andeavor (NYSE: ANDV) said Feb. 2 it had acquired a LNG facility in Kenai, Alaska, from ConocoPhillips Co. (NYSE: COP).
"This acquisition further strengthens our integrated value chain by optimizing our operations in Kenai and providing low-cost fuel for our refinery," the company said.
The company did not disclose financial details of the transaction.
ConocoPhillips said that the sale of the facility had closed and the operation had been transferred to Andeavor on Jan. 31.
Sale of the plant completed the company's exit from the Cook Inlet region and will allow ConocoPhillips Alaska to direct its full attention to operations in North Slope region where it is investing in new projects, the company said.
The facility, which entered service in 1969, last exported LNG in 2015, according to federal data. It has the capacity to liquefy 200 million cubic feet per day of gas.
Andeavor also operates a 62,700 barrel-per-day refinery in Kenai.
Recommended Reading
Vår Selling Norne Assets to DNO
2024-05-08 - In exchange for Vår’s producing assets in the Norwegian Sea, DNO is paying $51 million and transferring to Vår its 22.6% interest in the Ringhorne East unit in the North Sea.
SLB OneSubsea JV to Kickstart North Sea Development
2024-05-07 - SLB OneSubsea, a joint venture including SLB and Subsea7, have been awarded a contract by OKEA that will develop the Bestla Project offshore Norway.
EOG: Utica Oil Can ‘Compete with the Best Plays in America’
2024-05-09 - Oil per lateral foot in the Utica is as good as top Permian wells, EOG Resources told analysts May 3 as the company is taking the play to three-mile laterals and longer.
Chevron, Total’s Anchor Up and (Almost) Running
2024-05-07 - During the Offshore Technology Conference 2024, project managers for Chevron’s Anchor Deepwater Project discussed the progress the project has made on its journey to reach first oil by mid-2024.
SM Energy Targets Prolific Dean in New Northern Midland Play
2024-05-09 - KeyBanc Capital Markets reports SM Energy’s wells “measure up well to anything being drilled in the Midland Basin by anybody today.”