Bill White

ANALYSIS: Demand for liquefied natural gas is steadily rising, and anxiety is growing about supply and where prices will wind up after a host of new projects come online worldwide.

Once upon a time, Alaska considered a project to ship lots of liquefied natural gas from Nikiski. The effort, different from today's proposal, was in play for a dozen years, and it even completed an environmental review process. But few Alaskans seem to recall ever hearing of it.

The average LNG project takes 18 years from gas discovery to the first shipment setting sail. It takes a very specific blend of traits to interest a company enough -- even companies as huge as Alaska's "big three" -- to invest in a massive project like an Alaska gas line.

LNG producers and consumers met at a Tokyo summit Sept. 10 that the Japanese government called to continue discussing how to reduce high liquefied natural gas prices that are straining its economy. Two leaders in the world's LNG economy kicked off the back-and-forth.

In natural gas jargon, Alaska's gas is what's known as "wet" or "rich," meaning it's loaded with gas liquids that crank up the heat when it burns. And with Asian systems set up to handle such "wet" gas, it could prove a lucrative selling point in overseas markets.

It will be at least three to four years before a decision is made on whether to build an estimated $45 billion to $65 billion Alaska natural gas export project, an Exxon Mobil executive says.

Normally, a business in reverse is a bad thing, but as North America's natural gas industry looks to shift its expectations from imports to exports, the potential is vast.

As Alaska considers shipping its Arctic gas reserves on chilled tankers to faraway markets, the history of liquefied natural gas itself is a tale of brilliant physicists, savvy government engineers and entrepreneurial risk takers.

ANALYSIS: If Alaska's North Slope joins the shale revolution, there's likely plenty of natural gas to be found -- almost twice the volume of gas the entire United States consumed last year, the U.S. Geological Survey estimates.

Long road: The project's paperwork must be in order. A liquefication plant must be permitted and built. Regulators must determine exporting Alaska LNG won't harm the nation. The president himself (or herself) must make a political decision.

Offtakes from a large North Slope natural gas pipeline could supply gas to Alaskans for decades, but delivery would come with significant upfront investment by the state.

Moves to export some of the Lower 48's rising supply of natural gas have sparked debate about the wisdom of allowing that gas to leave the country, according to a new Congressional Research Service report.

In 2008, natural gas prices around the world started separating, leading to a great divergence in prices seen today that may or may not last.

A new forecast of global energy use from the U.S. Energy Information Administration shows natural gas will show more growth in worldwide production and demand over the next 25 years than any other fossil fuel. But what did it say about Alaska?

The global liquefied natural gas industry has been marked in recent years by a multibillion-dollar build-out, new suppliers, fresh markets, a new dominant player and an emerging rival.