Alyeschem has officially broken ground on its North Slope petrochemical factory in Prudhoe Bay. The facility will convert natural gas and carbon dioxide into methanol and hydrogen, with hydrogen used to refine ultra-low sulfur diesel fuel. Once operational, it is expected to be the first petrochemical plant in the U.S. Arctic. This project represents a…
Private equity-backed chemical company Alyeschem plans to build Alaska’s first methanol production plant, a small project that state authorities expect will benefit both regional oil producers and the environment while taking advantage of abundant water and natural-gas supplies at the Arctic site.
Following up on a pledge from last year, Alaska Industrial Development and Export Authority (AIDEA) signed loan agreements July 9 with Alyeschem, the company planning a factory on the North Slope to produce methanol and ultra-low sulfur diesel fuel.
On June 11, the Alaska Industrial Development and Export Authority thanked the North Slope Borough for its resolution of support of the Alyeschem project. The borough’s resolution supports collaborative efforts with AIDEA to advance economic development, create jobs, and decrease emissions.
