ANCHORAGE, Alaska & NEW YORK–(BUSINESS WIRE)–#Alaska–Glenfarne Alaska LNG, LLC (“Glenfarne”), a subsidiary of Glenfarne Group, LLC and majority owner and lead developer of Alaska LNG, a joint venture with the State of Alaska’s Alaska Gasline Development Corporation, announces that it has completed the first round of its Strategic Partner selection process, with over 50 companies participating from the United States, Japan, Korea, Taiwan, Thailand, India, and the European Union. These potential partners have formally expressed interest for over $115 billion of contract value for various partnerships with the Project, including equipment and material supply, services, investment, and customer agreements.
Alaska LNG’s economic fundamentals allow it to deliver LNG into Asia at prices that are lower than Henry Hub pricing from the U.S. Gulf Coast. Glenfarne launched its Strategic Partner Selection Process in early May to partner with global companies with a desire for a long-term partnership with the Alaska LNG project.
“The many expressions of interest received reinforce that the market recognizes Alaska LNG’s advantaged economics, fully permitted status, and powerful federal, state, and local support,” said Brendan Duval, CEO and Founder of Glenfarne. “The reality is being understood that the energy crisis in Southcentral Alaska can only be solved, in the long term, by the domestic portion of the pipeline, which is independently financially viable. We look forward to selecting our strategic partners and driving the project forward together.”
The Alaska LNG project consists of an 807-mile 42-inch pipeline capable of transporting enough natural gas to meet both Alaska’s domestic needs and supply the full 20 million tonnes per annum (“MTPA”) Alaska LNG export facility. Further accelerating the project’s execution, the pipeline will be built in two independent, financially viable phases. Phase One will deliver natural gas approximately 765 miles from the North Slope to the Anchorage region. Phase Two adds compression equipment and approximately 42 miles of pipeline under the Cook Inlet to the Alaska LNG Export Facility in Nikiski, which will be constructed concurrently with the LNG export facility.
Glenfarne anticipates a final investment decision on the domestic portion of the Alaska LNG pipeline in late Q4 2025 and recently announced a partnership with Worley to complete the final engineering for the pipeline portion of the project.
Glenfarne Group, LLC is the owner of Texas LNG, which recently announced that its capacity is fully sold out, and a final investment decision is expected later this year. Glenfarne Group, LLC’s other affiliates include the largest importer of LNG into Colombia and Magnolia LNG, a late-stage LNG export project located in Lake Charles, Louisiana. Beyond LNG, Glenfarne Group, LLC owns over 50 operating assets in the energy sector across five countries. Together with Alaska LNG, its permitted LNG portfolio totals 32.8 MTPA of capacity under development.
About Glenfarne Group, LLC
Glenfarne Group is a privately held developer, owner, and operator of energy infrastructure assets based in New York, New York and Houston, Texas, with offices in Anchorage, Alaska; Panama City, Panama; Santiago, Chile; Bogota, Colombia; Barcelona, Spain; and Seoul, South Korea. Through its subsidiaries, Glenfarne owns and operates over 50 energy infrastructure assets through three core businesses: Global LNG Solutions, Grid Stability, and Renewables. The company’s seasoned executives, asset managers, and operators develop, acquire, manage, and operate energy infrastructure assets throughout North and South America. For more information, please visit www.glenfarne.com.
Contacts
Glenfarne – Micah Hirschfield, [email protected]
