Trilateral Agreement Changes Future of Barrow
Wednesday, May 25, 2016
Ukpeaġvik Iñupiat Corporation (UIC) is pleased to announce a historic transaction for Barrow. On May 10, 2016, UIC, the North Slope Borough (Borough) and Barrow Electric Utilities Cooperative, Inc. (BUECI) signed a trilateral agreement allocating the future ownership and operation of the natural gas and electric utility systems in the Naval Arctic Research Laboratory (NARL) area. Under this landmark agreement, the Borough will own and operate a four-inch gas pipeline and pressure reducing station that serves the NARL area. BUECI will own and operate the remaining portion of the gas utility system, and the entire electric utility system serving the NARL area. At this time, the transaction is scheduled to close by January 1, 2017.
The negotiations that led to this agreement spanned several decades, and the three parties worked hard to come to an agreement that would benefit the Barrow community. The agreement will shape the future roles of the Borough, BUECI and UIC to meet the growing demands of electricity and natural gas in Barrow. To that end, UIC applauds the leadership of UIC President, Anthony E. Edwardsen, the UIC Board, the Borough, and BUECI for their vision, dedication, and hard work in achieving this long-sought goal. UIC looks forward to working with the Borough and BUECI towards an even brighter future for Barrow.