Alaska LNG Project Stalls Over Remaining Offtake Commitments
The $44 billion Alaska LNG project needs more offtake commitments before its final investment decision. CEO Brendan Duval said Glenfarne, the lead developer, must secure agreements for an additional 3 million metric tons of liquefied natural gas on top of the 13 million tons already agreed upon.
Japan's JERA and Tokyo Gas have preliminary offtake agreements in place. However, Glenfarne needs to reach 80% of the project's targeted annual capacity of 20 million tons before proceeding with a final investment decision.
The Alaska LNG project involves two phases: a pipeline and an export facility. Phase One will deliver natural gas from the North Slope to Anchorage, while Phase Two will add a pipeline under the Cook Inlet to the Nikiski export facility.