STAK Energy Signs 15-Year Gas Deal for Alaska Power Campus

STAK Energy Corporation and ExxonMobil Alaska Production Inc. have signed a 15-year natural gas sale agreement for a new power plant on Alaska’s North Slope, STAK Energy announced on November 5, 2026. The signing completes a process that began with a gas sale precedent agreement in January and establishes long-term fuel supply for STAK’s planned Project Aaka campus.

STAK says the contracted gas is sufficient to generate nearly 3 gigawatts of power, with Project Aaka targeting first power in 2030 and phased expansion through 2032. Contract pricing, a physical gas-delivery volume and Project Aaka’s capital cost were not disclosed.

STAK expects the campus to power advanced-computing applications while lowering energy costs for nearby North Slope infrastructure. The gas agreement and supported power project are also expected to generate new state and local tax revenue, although no revenue estimate was provided.

“For fifty years, the North Slope has produced gas without a way to put it to work at scale,” said Sparrow Mahoney, founder and CEO of STAK Energy. “Today, that changes. Our agreement strengthens the case for bringing more power, and lower energy costs, home to Alaska families.”

Off-Grid Power in an Established Industrial Corridor

Project Aaka is planned for an established North Slope industrial corridor with year-round road and airport access. High-efficiency gas turbines would generate electricity on site for an entirely off-grid campus, separating its power supply from Alaska’s public electric grid.

STAK’s project description places the site alongside the Dalton Highway and Trans-Alaska Pipeline System, running on natural gas from existing North Slope production. The company says its independent approach avoids an interconnection queue, adds no load to Alaska’s public grid and passes no costs to ratepayers.

Computing Demand and Project Requirements

In a June 9, 2026 project FAQ, STAK said it had scaled beyond its earlier cryptocurrency-mining focus as demand for artificial intelligence and advanced computing emerged. Its underlying model remains the use of stranded North Slope gas for off-grid infrastructure.

That fuel supply is separate from the Cook Inlet gas serving urban Alaska. The fields are hundreds of miles apart and have no connection, addressing the question of whether Project Aaka would compete with Alaskan households and businesses for their existing gas supply.

The gross lease area is 715 acres, but that figure is not the amount of land expected to be covered or disturbed. STAK projects more than 2,500 on-site workers at peak construction during a multi-year build and several hundred full-time positions once the campus is operational. All required federal, state and local permits must be obtained before construction begins.

The ExxonMobil agreement establishes a long-term fuel-supply pathway, but Project Aaka remains a planned development rather than an operating power asset. Permitting and construction still lie ahead. The central test is whether STAK can convert that gas supply into the proposed off-grid computing campus on its stated schedule.