BRIEF-Harvest Alaska to Re-Develop Kenai Peninsula LNG Terminal

Feb 7 (Reuters) - HARVEST ALASKA:

• ANNOUNCES DEAL WITH MARATHON PETROLEUM CORPORATION AND CHUGACH ELECTRIC ASSOCIATION TO BOLSTER SOUTHCENTRAL ALASKA'S ENERGY SUPPLIES THROUGH HARVEST'S ACQUISITION AND RE-DEVELOPMENT OF THE EXISTING KENAI LNG TERMINAL.

• SAYS IT WILL REDEVELOP KENAI LNG TERMINAL WITH FULL SCALE OPERATIONS BEGINNING IN 2028

• AIMS TO INCREASE SOUTHCENTRAL ALASKA'S ENERGY SUPPLY BY 2026

• SAYS UNDER PROPOSAL, HARVEST WOULD OWN, DEVELOP AND OPERATE THE LNG TERMINAL AND INFRASTRUCTURE – ALLOWING CHUGACH, MARATHON AND ANY OTHER RAILBELT CUSTOMERS TO SECURE ADDITIONAL NATURAL GAS SUPPLIES TO HELP MEET THE MARKET DEMAND

• SAYS PROJECT LEVERAGES MPC'S LEGACY LNG EXPORT INFRASTRUCTURE TO ALLEVIATE THE POTENTIAL SHORT-TERM NATURAL GAS SHORTAGE FACING SOUTHCENTRAL ALASKA