1. (a) If the commissioner does not reject a proposal received under 11 AAC 84.1005, the commissioner will issue a written finding under AS 38.05.710(c), 38.05.035(e), and this section to determine whether issuance of a carbon storage exploration license is in the state's best interest. A best interest finding will discuss facts within the scope of the administrative review established under AS 38.05.710(c) that are known to the commissioner at the time of preparation of the finding and will include

   1. (1) property descriptions and locations;
   2. (2) geological structure descriptions and locations;
   3. (3) current and projected uses in the area, including competing uses of the area or land, that may include oil and gas leases, hydrocarbon storage, mining, and renewable energy;
   4. (4) reasonably foreseeable cumulative effects of carbon storage exploration or lease operations, including potential economic effects and effects on municipalities and communities in the area;
   5. (5) license and lease stipulations and mitigation measures, and a discussion of the protections offered by the measures;
   6. (6) whether the applicant is qualified under 11 AAC 84.1000;
   7. (7) commercial terms required under AS 38.05.705 and 38.05.710(c)(2); and
   8. (8) any issues raised during the public comment period.

2. (b) If there are competing proposals under AS 38.05.710 and 11 AAC 84.1010, the commissioner's finding under (a) of this section will also

   1. (1) discuss the bid variable adopted by the commissioner; and
   2. (2) identify the qualified participants from the call for competing proposals.

(Eff. 2/16/2025, Register 253)

Authority: AS 38.05.035, AS 38.05.700, AS 38.05.710