Glenfarne Alaska LNG, a subsidiary of the Glenfarne Group, has confirmed that the first part of its LNG export development in Alaska is at a critical juncture, with sufficient North Slope natural gas volumes have been reserved for a final investment decision (FID), following the latest three-decade deal with US-based energy company ConocoPhillips.
Glenfarne and ConocoPhillips signed a 30-year gas sales agreement to supply natural gas produced on Alaska’s North Slope for the first phase of the project. Alaska LNG project. This development has now secured prior agreements for sufficient volumes to support a final investment decision for Phase 1 and to supply enough natural gas to meet Alaska’s energy needs.
Alaska LNG Project Being developed In two financially independent phases to accelerate project implementation. While Phase One consists of a 739-mile, 42-inch pipeline to transport natural gas to Alaska consumers to enhance long-term energy security and address looming supply shortages resulting from declining Cook Inlet production, Phase Two will add LNG export facilities at Nikiski.
Adam PrestigeThe President of Glenfarne Alaska LNG commented: “All of the major producers in the North Slope region have now committed enough natural gas to support a final investment decision for Phase 1. Today’s historic agreement sets commercial terms for ConocoPhillips to supply gas and help the Phase 1 Alaska LNG project provide energy security for Alaska. I appreciate Eric and his team for their continued cooperation and support as we advance this transformational energy project in Alaska.”
Alaska LNG consists of an 807-mile, 42-inch pipeline to deliver natural gas from Alaska’s North Slope to meet the nation’s domestic needs and produce 20 million tons per year of LNG for export. Glenfarne owns a 75% stake in the project, and the State of Alaska, through the Alaska Gas Line Development Corporation, owns the remaining 25% stake.
With the latest deal, Alaska LNG has agreements with all three major North Slope producers, including ConocoPhillips, ExxonMobil and Hilcorp Alaska, as well as Great Bear Pantheon, a wholly-owned subsidiary of Pantheon Resources. Glenfarne’s total permitted LNG portfolio in North America amounts to 32.8 million tons per annum of capacity under development in Alaska, Louisiana and Texas.
Eric IsaacsonThe president of ConocoPhillips Alaska explained: “ConocoPhillips shares Glenfarne’s commitment to developing Alaska’s resources for the long-term benefit of Alaskans. Our participation in Alaska LNG supports reliable access to responsibly produced natural gas in the North Slope while complementing our continued investment in Alaska.”
Boost your brand with marine energy ⤵️
Steal the spotlight and establish your brand in the heart of the outside world!
Join us to make a greater impact and grow your presence at the core of the marine energy community!
