Andeavor completes acquisition of Kenai LNG facility.
KENAI, Alaska (AP) — Andeavor has completed its acquisition of the Kenai Liquefied Natural Gas facility.
Kenai radio station KSRM , quoting Kenai Peninsula Borough Mayor Charlie Pierce, reports ConocoPhillips sold the plant to the company formerly known as Tesoro for $10 million.
The companies had agreed to keep the sale price confidential.
ConocoPhillips put the LNG plant up for sale in November 2016. In July, the company said it would scale back operations until it had found an interested buyer.
The borough assessed facility at $55 million.
The plant includes a dock and loading facility. The plant for nearly 50 years was the only export facility of domestic liquefied natural gas in North America.
Pierce says the borough will review the purchase price and make considerations for assessed value and property tax.