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April 15, 2009
CROW AGENCY, MT – The Crow Tribe and Australian-American Energy Co. LLC (AAEC) are pleased to announce they have executed the final project agreements for the Many Stars coal-to-liquids project to be constructed on the Crow Indian Reservation.
Interim Tribal Chairman Cedric Black Eagle signed the agreements today in Crow Agency. Earlier in the day, Allan Blood, Chairman of AAEC, executed the same documents in Australia.
These documents incorporate all the same terms of the master agreement the Tribe and AAEC signed last August and which was previously approved by the Crow Tribal Legislature and the Bureau of Indian Affairs.
The documents signed today, which number more than 500 pages, are key supporting, foundational agreements that provide all the detail regarding the development and operation of the project over the next several decades, as envisioned by the founders in the original Project Agreement.
“The execution of these final documents is the result of a lot of hard work by AAEC, the Crow Tribe and our respective legal counsel over the past several months,” Black Eagle said. “I know that Allan Blood joins me in recognizing this event as another major milestone in bringing this important $7.5 billion project to reality, for the benefit of the Crow Tribe, the state of Montana and the whole United States.”
“There’s a lot of work to do before Many Stars is up and running, but getting all this paperwork taken care of is a nice reminder that this project is on the move,” Blood added. “Today we are a step closer to the vision we share with the Crow Nation.”
Announced in August 2008, Many Stars CTL is an energy development project led by AAEC in collaboration with the Crow Nation. Expected to be operational in 2016, the project will use tribal coal resources to produce 50,000 barrels per day of alternative, clean-burning fuels for domestic use.
Gov. Brian Schweitzer, a strong advocate for coal-to-liquids technology, said he was pleased with today’s news from Many Stars. “I am happy to see this project moving forward,” he said. “Many Stars will bring thousands of good-paying jobs for Montanans who are ready to go to work and reduce our dependence on foreign energy, making America more energy independent.”
Many Stars is committed to capturing the carbon dioxide produced during the coal conversion process and intends to geo-sequester the CO2 or use it for enhanced oil recovery.
View News Release
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