STAK Energy Corporation and ExxonMobil Alaska Production Inc. have signed a 15-year Gas Sale Agreement to supply gas to a new power plant on Alaska's North Slope. The signing completes a process that began with a gas sale precedent agreement in January.

The agreement represents a significant new commercial pathway for North Slope natural gas, supplying enough natural gas to generate nearly 3 GW of power while deploying Alaska's resources in-state to produce both energy and revenue.

STAK Energy plans to construct its campus, Project Aaka, in an established industrial corridor on the North Slope with year-round road and airport access. The campus will operate entirely off-grid, generating its own power on-site through high-efficiency gas turbines, with no anticipated impact to Alaska's public electric grid or ratepayers.

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.