Alaska Business Staff
YEAR IN REVIEW
Despite significant challenges, many of Alaska’s businesses, associations, nonprofits, and other economic drivers—from colossal industry players to one-employee entrepreneurial operations—kept
a steady keel as they navigated tough terrain
in 2017. Alaska Business has pulled together a
few news highlights from 2017 in celebration
of the drive, innovation, longevity, and commitment each of these operations.
In November Alaska Governor Bill Walker
signed the five-party joint development agreement for the Alaska liquefied natural gas
(Alaska LNG) project. This historic signing is
the most significant step toward finally monetizing Alaska’s vast resources of natural gas.
President Donald Trump and President Xi Jin-ping were present for the signing ceremony at
the Great Hall of the People, underscoring the
international importance of the agreement.
Chugach | ML&P | MEA
Three of Alaska’s Railbelt electric utilities
signed an agreement to collectively utilize
their generation and transmission assets to
benefit tens of thousands of customers. The
Power Pooling and Joint Dispatch Agreement, signed by Chugach Electric Association, Municipal Light & Power, the Municipality of Anchorage, and Matanuska Electric
Association, was filed with the Regulatory
Commission of Alaska.
Vigor | Maritime Works
Vigor and Maritime Works jointly announced an innovative training program
aimed at developing an advanced manufacturing workforce comprised of Alaska
residents. Advancing Alaskan Workers is essential to combatting the high turnover rates
seen at the Ketchikan shipyard and elsewhere
that result when non-Alaskans are recruited
to fill critical skills gaps in state, the companies say. The Advancing Alaskan Workers
project offers structured on-the-job training,
leading to industry-recognized credentials
and family wage careers.
Ahtna concluded operations on the Tolsona
No. 1 gas exploration well after completion of
the initial flow testing. All personnel, equipment, and materials were successfully demobilized from the drilling site, the well was suspended and all that remains is the well head.
The ownership group of the Alaska Aces pro-
Repsol | Armstrong
fessional hockey organization ceased opera-
tions after fifteen seasons and three Kelly Cup
championships. Aces management said as a
result of the economic downturn, sponsor-
ships were down $600,000, season ticket sales
were down $262,000, and attendance was
down about 1,500 spectators per game from
just a couple of seasons ago. The organization
lost more money in its final season than in the
past two seasons combined and the team ex-
pected the downward trend to continue.
Repsol and partner Armstrong Energy made
the largest US onshore conventional hydrocarbons discovery in Alaska in thirty years. The
Horseshoe-1 and -1A wells drilled during the
2016-2017 winter campaign confirm the Nanushuk play as a significant emerging play in
Alaska’s North Slope. The contingent resources
identified with the existing data in Repsol and
Armstrong Energy’s blocks in the Nanushuk
play in Alaska could amount to approximately
1.2 billion barrels of recoverable light oil.
Image courtesy of Ahtna