The state’s largest gas utility is warning that shortfalls could come as soon as next year – and imports are years off.
Hilcorp Senior Vice President Luke Saugier testifies to a joint meeting of the House and Senate Energy Committees on Feb. 7, 2024.
“Part of the reason we’re all here is because the gas under Hilcorp’s leasehold cannot meet 100% of the demand that there is today in the Cook Inlet market,” he told the committee on Wednesday. “So we need other sources of energy.” Hilcorp expects to provide roughly 55 billion cubic feet of gas this year, nearly 80% of total demand. But the company warns that it’s expecting production to fall to 32 billion cubic feet of gas per year starting in 2029.Enstar, the Southcentral gas utility, told lawmakers that most electric utilities’ contracts with Hilcorp expire in 2027 and 2028. And it’s unclear where gas will come from once they expire.
So, in the short term, the focus is on boosting production in Cook Inlet. And two smaller gas producers told the committee that they’re facing significant hurdles in bringing new gas online. Lawmakers are considering several bills that would reduce various state royalties and taxes on gas in an effort to juice production. And Johnson says that would be helpful – to an extent.
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