US energy firm Glenfarne has definitive agreements to become the majority owner of Alaska LNG, a federally permitted liquefied natural gas (LNG) project on the US Pacific Coast.
Alaska Gasline Development Corporation (AGDC) will divest its 75% stake in 8 Star Alaska, a subsidiary that manages all Alaska LNG project assets, to Glenfarne.
Glenfarne will assume the role of lead developer for Alaska LNG, overseeing all work from design to final investment decision (FID).
Alaska LNG is designed to deliver North Slope natural gas to Alaskans and Alaska utilities, while exporting up to 20 million tonnes of LNG per year (mtpa).
It also has three subprojects, made up of an 807-mile, 42-inch pipeline, the 20 mtpa LNG export terminal in Nikiski, Alaska; and a carbon capture plant on the North Slope to remove and store seven million tonnes of CO2 annually.
Once FID is reached, the State of Alaska will retain a 25% share in 8 Star Alaska and have the option to invest up to 25% in any or all of the three 8 Star Alaska subprojects.
Alaska Governor Mike Dunleavy noted Alaska’s significant investment to develop Alaska LNG to the point that it can engage Glenfarne to bring the project to the finish line.
Brendan Duval, CEO of Glenfarne, said, “Alaska LNG will provide needed energy security and natural gas cost savings for Alaskans and give Glenfarne flexibility to simultaneously serve LNG markets in both Asia and Europe with the three LNG projects.”
In February, US President Donald Trump announced an energy partnership to allow LNG exports from Alaska LNG to Japan. Natural gas deliveries are hoped to start by 2031.
The news was announced during a joint press conference attended by President Trump and Japanese Prime Minister Shigeru Ishiba, where Trump referenced a “joint venture” between the US and Japan.
