Senior center technician Michael Burgy says gauges are being monitored to determine if any underwater landslides have generated tsunami waves.
"It was a very sharp quake", Anchorage Mayor Ethan Berkowitz told MSNBC's Katy Tur.
People ran from their offices and into the streets or took cover under desks as the ground shook for about 30 seconds.
CNN is reporting that all local TV and radio stations were knocked off the air.
The Trans Alaska Pipeline, one of the longest crude oil pipelines in the world, was shut down as a precautionary measure so crews could inspect the system. It just kept going, and it got louder and louder.
There were no reports of any deaths or serious injuries.
In Kenai, southwest of Anchorage, Brandon Slaton was home alone and soaking in his bathtub when the natural disaster struck.
Authorities didn't have firm figures on damages Friday night.
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A team from the Federal Emergency Management Agency was on its way to the quake zone, and damage assessments were under way, Senator Lisa Murkowski of Alaska said on Fox News Channel.
The Kenai Peninsula Borough School District said all district students were safe. Seismologists predicted many more in the coming days and weeks. When the shaking stopped, "every principal in that building went 100 different ways", Thompson said.
The quake measured a 7.0 magnitude after being updated from an early 6.6 magnitude measure.
Philip Peterson was in a multistory building in downtown Anchorage as the structure swayed and coffee mugs fell from tables and tiles from the ceiling.
"I just jumped under my desk and had to ride it out", Peterson said.
U.S. Geological Survey Geophysicist Paul Caruso said there have been 545 aftershocks, including the 5.7 magnitude shaker that came nearly immediately after Friday's big quake.
Samuel Shea, the Science Operations Officer at the National Weather Service in Anchorage, said his drive from the office to his home in South Anchorage, which usually takes around 10 minutes, was 40 minutes on Friday after the quake.
Students dove under their desks and workers ran from buildings as a monster 7.0 quake violently rocked Anchorage Friday morning.
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"To the Great people of Alaska. You could tell that it was a bad one". Walker's statement concluded. "God bless Alaska".
Former Alaskan Gov. Sarah Palin asked her Twitter followers to pray for the state, saying her home was damaged in the quake.
"[Pray] for Alaska. Our family is intact - house is not".
The state averages 40,000 earthquakes a year, with more large quakes than the 49 other states combined.
"Anchorage has a population of around 300,000, while there are numerous large population centers in California".
The largest city in Alaska woke up to a horrifying and devastating 7.0 quake. swaying buildings, buckling roads and knocking down telephone towers.
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An-off duty border patrol agent, 37-year-old Dennis Dickey , pleaded guilty to starting the " Sawmill Fire " last spring. But footage shows that once the target was shot, flames quickly started to spread and panic broke out.