Cost estimates for the Alaska LNG Project have been shaved 20% or more, but the project is still not economic, its managers told state legislators in hearings that ended late Thursday. Based on that, three North Slope producers who are now part of Alaska LNG — BP, ConocoPhillips and ExxonMobil — will not proceed further with the project as it is currently structured, all three companies told a combined meeting of the House and Senate Resources Committee on Thursday. A fourth partner, the state of Alaska, is investigating alternative project structures, including state ownership, and will continue development. The producers support that effort, they told legislators. Article Continues below… LNG Daily is essential reading as LNG supply dynamics continue to change in big markets like Japan, China, India and the U.S. This premier independent news publication for the global LNG industry gives readers information on every aspect of the […]