KEY POINTS
- STAK Energy has signed a 15-year natural gas supply agreement with ExxonMobil for its Project Aaka development in Alaska.
- The proposed off-grid campus will have nearly 3GW of gas-fired power generation capacity.
- First power is targeted for 2030, with phased expansion expected to continue through 2032.
STAK Energy has signed a 15-year natural gas supply agreement with ExxonMobil Alaska Production to provide fuel for a nearly 3-gigawatt (GW) off-grid power campus planned for Alaska’s North Slope.
The agreement, announced on November 5, 2026, will enable STAK Energy to use natural gas resources that have remained largely stranded in the region to generate electricity for its proposed Project Aaka development.
The deal concludes negotiations that began in January with the signing of a preliminary gas sale agreement and establishes the fuel supply arrangement required to advance the project.
Project to generate nearly 3GW of electricity
STAK Energy plans to develop Project Aaka within an established industrial corridor on Alaska’s North Slope, an area with year-round road and airport access.
The campus will operate independently of the public electricity network, generating its own power on-site through gas turbines. The company said the development is not expected to affect Alaska’s public electricity grid or increase costs for utility customers.
The nearly 3GW generation capacity will provide electricity for advanced computing applications, including large-scale data processing operations. The project is also expected to reduce energy costs for nearby infrastructure on the North Slope.
First power targeted for 2030
STAK Energy is targeting the delivery of its first electricity in 2030, with the campus expected to undergo phased expansion through 2032.
The 15-year agreement with ExxonMobil provides a long-term natural gas supply arrangement to support the development and operation of the power generation facility.
The project will utilise gas produced on Alaska’s North Slope, where substantial natural gas resources have historically faced limitations in reaching larger markets or being developed for large-scale industrial use.
Company highlights use of stranded gas resources
STAK Energy founder and CEO Sparrow Mahoney said the agreement would help unlock the commercial potential of natural gas that has been produced in the region for decades but lacked sufficient infrastructure or demand for large-scale utilisation.
Mahoney said the development would support additional power generation capacity while helping reduce energy costs for communities and infrastructure in Alaska.
The project represents an effort to convert previously underutilised gas resources into electricity for energy-intensive computing operations, while keeping the facility separate from the state’s public power network.
