in Cook Inlet regionFAIRBANKS, Alaska - On Wed. the Alaska House of Representatives passed House Bill 394 aimed at increasing energy security in Southcentral Alaska by providing more gas storage capability in the Cook Inlet during a natural gas shortage.
The passing of this bill emphasizes the Alaska House Majority’s commitment in guaranteeing the protection of consumers along Railbelt communities. The bill will also provide regulatory natural gas storage, thus providing more stability to the sector, making it more attractive to investors. “HB 394, as it is currently written, guarantees that additional gas storage via depleted reservoirs in Cook Inlet will be made available. This is a critical first step to enhancing energy security and reliability for the Railbelt as we face a looming gas production shortage in Cook Inlet.
“We currently only have one gas storage facility in southcentral, CINGSA, which should be worrisome for Alaskan’s considering the issues we experienced with that facility in February. We worked hard to enact legislation to greatly increase gas storage capacity in Cook Inlet which would work to avoid the gas supply ‘red alert’ we barely avoided last winter during that cold snap.” McKay continued.
The Alaska House Majority says the approval of HB 394 is critical for securing energy stability for all communities in Alaska because it provides much needed heat sources and power generation.