Pace Global Addresses Governor, Chairman at Annual Dinner for Alaska Permanent Fund ; Sutherland Urges Action on the Alaska Pipeline System. Check it out:
(Comtex Business Via Thomson Dialog NewsEdge) WASHINGTON, Sep 27, 2006 (U.S. Newswire via COMTEX) --Timothy F. Sutherland, chairman and CEO of Pace Global Energy Services LLC, provided the keynote address at the Alaska Permanent Fund Corporation's (APFC) Annual Dinner. Held on Sept. 20, the dinner featured Gov. Frank H. Murkowski's announcement of the $1,106.96 annual dividend for each qualified citizen of Alaska. Sutherland offered a global view of how Alaska fits into an increasingly competitive and complex energy market that is rapidly responding to meet the needs of the United States for the next 50 years.
While Alaskan citizens enjoy the reversal of a five-year, declining trend in the annual dividend, Sutherland presented a sharp contrast to current circumstances should Alaska be unable to supplement and extend dwindling state oil revenues with natural gas revenues from Alaskan North Slope gas development. "My advice to you tonight, ladies and gentlemen, is: please, don't blow it," Sutherland told the approximately 200 attendees.
"There is a window of opportunity for monetizing stranded North Slope gas reserves, but that window could close if delays allow time for the many alternative sources of gas supply to balance the North American market ... The longer the fate of the Alaska gas pipeline system remains uncertain, the more domestic and import capacity will be planned, built and operated," Sutherland asserted.
The APFC, with over $34 billion in invested capital, is among the world's 100 largest investment funds. In closing, Sutherland congratulated the fund on its past and current successes, but also warned of the risk to sustaining the annual royalty contributions to the fund if North Slope pipeline development stalls. After reviewing some of the many forms of gas resource development now underway to serve the North American market, Sutherland stated, "the rest of the world is not waiting for Alaska."
For a copy of Sutherland's remarks, visit http://www.paceglobal.com/paceglobal/Events.cfm.
To read Gov. Murkowski's reaction, visit http://www.gov.state.ak.us/news.php?id(equal)2643.
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About Pace Global Energy Services LLC
For more than 25 years, Pace Global has assisted energy infrastructure developers and managers. The company provides asset and enterprise strategy development, project valuation, market assessment, risk management and price forecasting services. Pace Global's clients include financial institutions, energy companies, public utilities and energy-intensive industrial companies. For more information, please visit http://www.paceglobal.com or call 703-818-9100.
http://www.usnewswire.com
Tamara Pedersen, 703-227-8776 or
[email protected] ; Web:
http://www.paceglobal.co
Copyright (C) 2006, U.S. Newswire
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