Earlier this year, Glenfarne signed definitive agreements with state-owned Alaska Gasline Development Corporation to become the majority owner of the giant Alaska LNG export project.
The project is designed to deliver North Slope natural gas to Alaskans and Alaska utilities and export up to 20 million tonnes of LNG per year.
Alaska LNG’s three subprojects include an 807-mile 42-inch pipeline, the 20 mtpa LNG export terminal in Nikiski, Alaska, and a North Slope-based carbon capture plant to remove and store seven million tons of carbon dioxide annually.
Glenfarne said on Tuesday it had completed the first round of its strategic partner selection process, with over 50 companies participating from the US, Japan, Korea, Taiwan, Thailand, India, and the European Union.
The company launched its partner selection process in early May to partner with global companies with a desire for a long-term partnership with the Alaska LNG project.
“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,” the company said.
Pipeline FID in Q4
Glenfarne anticipates a final investment decision on the domestic portion of the Alaska LNG pipeline in late fourth quarter of 2025.
The firm recently announced a partnership with Australian engineering firm Worley to complete the final engineering for the pipeline portion of the project.
Brendan Duval, CEO and founder of Glenfarne, said 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.”
“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,” he said.
Market interest
AGDC said in March that market interest in Alaska LNG continues to accelerate “rapidly” following the agreement with Glenfarne and President Trump’s executive order identifying Alaska LNG as a national priority.
In March, Taiwan’s CPC Corp signed a letter of intent with AGDC to buy LNG and invest in the planned Alaska LNG project.
Thailand’s PTT and Egco will also engage in further discussions to potentially participate in the development and buy volumes from the planned Alaska LNG project, according to Thailand’s Ministry of Energy.
Besides Taiwan and Thailand, Japan, the Philippines, and South Korea may be interested in buying LNG from Alaska.
Shipping LNG from Alaska to Asian countries would take less time and effort compared to US Gulf Coast LNG export plants, as LNG carriers would not need to pass through the Panama Canal.
