State Makes Offer On Interior Utility

The State of Alaska plans to purchase Fairbanks Natural Gas, a utility that serves the Interior.

The Alaska Industrial Development and Export Authority has signed a letter of intent to buy its parent company, Pentex Alaska Natural Gas, for $52.5 million.

In a news release sent Wednesday, Gov. Bill Walker described the move as an effort to bring “energy relief to Interior Alaska.”

The purchase will require approval from AIDEA’s board and the Legislature.