STAK Energy Corporation and ExxonMobil Alaska Production Inc. have signed a 15-year Gas Sale Agreement to supply gas to a new power plant on Alaska's North Slope. The companies announced the deal on Nov. 5, 2026. The volumes are enough to generate nearly 3 GW of power.
The signing finishes a process that began with a gas sale precedent agreement in January.
What Project Aaka is
Project Aaka is the campus STAK Energy plans to build on the North Slope. It will sit in an established industrial corridor with year-round road and airport access.
The campus will run entirely off-grid. It will generate its own power on site with high-efficiency gas turbines, and STAK says it expects no impact on Alaska's public electric grid or ratepayers. According to the companies, the project is expected to power a range of advanced computing applications and to lower energy costs for nearby North Slope infrastructure.
Timeline and revenue
STAK is targeting first power in 2030, with phased expansion through 2032. The companies say the gas sale agreement and the power project behind it are expected to generate new state and local tax revenue.
The company and its pitch
STAK Energy is based in Anchorage and has offices in Texas and California. Its leadership team has worked on large energy infrastructure projects across the North Slope and the Arctic, with backgrounds that include ExxonMobil and ConocoPhillips.
Founder and CEO Sparrow Mahoney framed the deal around gas that has gone unused. "For fifty years, the North Slope has produced gas without a way to put it to work at scale," he said, adding: "Today, that changes."
The announcement describes the agreement as a new commercial pathway for North Slope natural gas, one that uses Alaska's resources inside the state to produce both energy and revenue.
