Andeavor acquires Kenai LNG facility in Alaska from ConocoPhillips

(Reuters) - Independent U.S. refiner Andeavor said on Friday it had acquired a liquefied natural gas (LNG) facility in Kenai, Alaska, from ConocoPhillips.

“This acquisition further strengthens our integrated value chain by optimizing our operations in Kenai and providing low-cost fuel for our refinery,” the company said.

The company did not disclose financial details of the transaction.

ConocoPhillips said that the sale of the facility had closed and the operation had been transferred to Andeavor on Jan. 31.

Sale of the plant completed the company’s exit from the Cook Inlet region and will allow ConocoPhillips Alaska to direct its full attention to operations in North Slope region where it is investing in new projects, the company said.

The facility, which entered service in 1969, last exported LNG in 2015, according to federal data. It has the capacity to liquefy 0.2 bcf per day of gas.

Andeavor also operates a 62,700 barrel-per-day refinery in Kenai.

Reporting by Vijaykumar Vedala in Bengaluru