Letter: Russia’s actions mean we should hedge our bets on gas

Shouldn’t Alaskans now further hedge our risk in the LNG pipeline project? One of our “partners” in the project has done just that with the Russian oil giant Rosneft in 2013 with a heads of agreement under which Rosneft could acquire a one-quarter interest in Pt. Thompson. (ADN, June 5). Rosneft is headed by Igor Ivanovich Sechin, an associate of Russian President Vladimir Putin. Sechin is banned from U.S. travel as retaliation by the U.S. for the Russian invasion of the Ukraine. 

Russia recently has announced a substantial gas delivery agreement with China. This has the potential to at least impact the value of Alaska gas going into the Asian market. So should Alaska be looking to partner with another sovereign, perhaps Canada or Australia, to ensure at least some return on our investment? 

Regardless of how you feel about the conduct of Putin, we are now business partners with Russia yet potentially competing with them, so shouldn’t we also be hedging our bets somewhere else? 

— Lynn Willis

Eagle River