The Legislative Audit and Budget (LB&A) Committee met this morning, Jan 20, at 10am to discuss approval of a contract with consulting group Pegasus-Global Holdings, Inc. The contract, which is not to exceed $250,000, will enable Pegasus to provide the legislature with key information regarding the Alaska LNG pipeline project.
LB&A received a “key issues” report from the GaffneyCline Energy Advisory on December 12, 2025. GaffneyCline’s report concluded: “The AK LNG project and associated gas pipeline is one of the most ambitious gas infrastructure projects ever attempted globally and would require resolution of a host of complex commercial, technical and logistical features to come to fruition.”
The contract with Pegasus was proposed by Senate Majority Leader Cathy Giessel (R-Anchorage), Chair of the Senate Resources Committee, to provide the legislature with “assistance in understanding the implications of project ownership; governance structure as laid out in the current project; cost controls and supervision of costs and finance agreements; engineering procurement and construction contracts; offtake agreements for in-state gas; financial decisions related to tax structure, royalty, and production tax; schedule risk; and the need for independent, ongoing monitoring as the project evolves.”
Senators Giessel and Stedman highlighted the success of Pegasus’s prior consulting role for the Trans-Alaska Pipeline.
LB&A passed the motion and adjourned 10:13am.
Pegasus is scheduled to present to the Senate Resources Committee this Friday.
It’s very unfortunate that Stedman has anything to do with any of this. He could screw up a train wreck!