Harvest Midstream has announced the official closure of the acquisition of the Kenai liquefied natural gas (LNG) terminal, located in Nikiski, Alaska. This transaction marks a key step in the company’s strategy to revitalise existing energy assets to enhance regional gas supply. The facility comprises approximately 100 acres of industrial waterfront land, 107,000 cubic metres of storage capacity, and port infrastructure capable of accommodating LNG carriers of up to 138,000 cubic metres, equivalent to about 2.9 billion cubic feet of natural gas.
Optimising a strategic asset
Through this acquisition, Harvest Midstream intends to restore operational function to the Kenai site, historically used for LNG exports. The company now plans to utilise the terminal for imports to meet local demand, while preserving the option of future exports. This strategy aligns with efforts to reinforce energy reliability in Southcentral Alaska by mobilising existing infrastructure.
Technical inspection and regulatory adjustment
In summer 2025, Harvest Midstream conducted a full inspection of the onshore facilities and dock. Simultaneously, the company initiated a procedure with the Federal Energy Regulatory Commission (FERC) to amend its permit and increase the site’s import capacity. Discussions are underway with several global LNG suppliers and potential offtakers, in anticipation of a gradual restart of operations.
Commissioning timeline
Harvest Midstream is targeting a final investment decision in the second quarter of 2026. First LNG deliveries are expected in the first half of 2028. This acquisition, following the company’s first successful LNG delivery from the North Slope region to Fairbanks, reflects its commitment to strengthening the state’s energy supply and repositioning strategic assets within the regional supply chain.
