Bonanza Fuels, Nome

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Bonanza Fuel, LLC, a wholly-owned subsidiary of Sitnasuak Native Corporation (SNC) provides a full range of fueling services from its recently expanded 6-million-gallon bulk fuel facility located at the Port of Nome, along with a fleet of fuel delivery trucks, and a gas station and convenience store located in the heart of Nome. Services include marine diesel deliveries for both large and small maritime vessels at the Port of Nome, home heating oil delivery for residential and commercial customers, and winter and summer diesel for commercial customers, mining and construction projects. In December 2015, Bonanza Fuel introduced Jet-A Fueling Services at the Nome Airport for commercial, government, and private aircraft. Nome, historically a hub for all Western Alaska north of the Yukon, is strategically located on the Seward Peninsula and will have a critical role as a gateway to the Arctic. With an increase in marine traffic, Bonanza Fuel is well situated as Arctic shipping lanes open up.

In September 2014, Northrim Bank provided a loan of $8,125,000 for the tank farm expansion. This loan was participated with AIDEA in the amount of $7,312,500 on a long term basis.

Sitnasuak Construction Services, LLC (SCS), a sister subsidiary of SNC, provided design/build services which added 2.3 million gallons of storage capacity to Bonanza Fuel’s existing tank farm and facility startup after extensive piping and product changes, valve installations, re-occurring regulatory inspections to new and existing tanks and pipelines while keeping the entire tank farm operational.

SCS, along with design partner UMIAQ, performed the project in two concurrent phases, tank construction/installation and civil work, including excavation, liner installation and containment construction. The expansion helped the customer meet increased demand from both higher Arctic marine traffic and local community growth. The project was successfully completed under budget and was substantially complete in time to receive a critical fuel delivery as scheduled.

“Sitnasuak Native Corporation appreciates the proactive position of AIDEA in helping with the expansion of critical infrastructure in Nome.  There is more opportunity for the State of Alaska to take a leading role in Arctic development, and we would like to continue playing an instrumental role in the region in making that happen.” Michael Orr, President.