Glenfarne and the Alaska Gasline Development Corp (AGDC) signed definitive agreements under which Glenfarne Alaska LNG will become majority owner of Alaska LNG.
Glenfarne and the Alaska Gasline Development Corp (AGDC) signed definitive agreements under which Glenfarne Alaska LNG will become majority owner of Alaska LNG and will assume the role of Alaska LNG’s lead developer and will lead all remaining development work from FEED through to a FID.
Financial terms of the deal were not disclosed.
Alaska LNG will be built in three phases: a 1290-Km natural gas pipeline from Alaska’s North Slope, a 20 MMT/Y LNG export facility in Nikiski near Anchorage, and a North Slope carbon capture plant that will store 7 MMT/Y of carbon dioxide.
Glenfarne said that it will prioritise the pipeline which is scheduled to reach a final investment decision (FID) sometime in 2025 followed by FEED work as “the pipeline is critical to meet Alaska’s gas needs amid declining production in the Cook Inlet.”
On 20 Jan. 2025, US new administration announced that it will prioritize the development of Alaska’s LNG potential, including the permitting of all necessary pipeline and export infrastructure.
On 10 Jan. 2025, AGDC announced that it has signed an exclusive framework agreement with Glenfarne under which the latter would privately lead and fund the development of the Alaska LNG project following ten years of design and permitting work.
The next step is for both parties to create legally binding development agreements that will move the project forward which is expected within the next few months, AGDC said.
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