Section 43.82.110. Qualified sponsor or qualified sponsor group.

The commissioner may determine that a person or group is a qualified sponsor or qualified sponsor group if the person or a member of the group
        (1) intends to own an equity interest in a qualified project, intends to commit gas that it owns to a qualified project, or holds the permits that the department determines are essential to construct and operate a qualified project; and
        (2) meets one or more of the following criteria:
             (A) owns a working interest in at least 10 percent of the stranded gas proposed to be developed by a qualified project;
             (B) has the right to purchase at least 10 percent of the stranded gas proposed to be developed by a qualified project;
             (C) has the right to acquire, control, or market at least 10 percent of the stranded gas proposed to be developed by a qualified project;
             (D) has a net worth equal to at least 10 percent of the estimated cost of constructing a qualified project;
             (E) has an unused line of credit equal to at least 15 percent of the estimated cost of constructing a qualified project.

Authorities

43.82.140;43.82.260;43.82.445

Notes

References

AS 43.82.140 Review of applications and determination of qualifications.
AS 43.82.260 Change of parties to an application or a contract; assignment of interests.
AS 43.82.445 Administrative termination of a contract.

History

(Sec. 3 ch 104 SLA 1998; am Sec. 3 ch 4 SLA 2003)