Exxon Retains Disputed Alaska Leases With Condensate, LNG Accord
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Exxon Mobil Corp., ConocoPhillips and BP Plc agreed to pump light crude oil from a dormant Alaskan field and offer natural gas to Asian utilities in exchange for the right to retain leases the state sought to reclaim.
Under termSs of a settlement announced yesterday, Exxon and its partners in the Point Thomson field pledged to ship 10,000 barrels of condensate daily through the TransAlaska Pipeline System beginning in 2016. The companies also promised to seek overseas buyers for gas from the field that currently is too remote from North American markets to be sold.