Glenfarne Seeks Final Commitments for $44 Billion Alaska LNG Project

The Alaska LNG project is awaiting further offtake commitments before making a final investment decision. According to CEO Brendan Duval, Glenfarne needs to secure an additional 3 million metric tons of liquefied natural gas (LNG) on top of the 13 million tons already agreed upon.

Japan's major LNG buyers JERA and Tokyo Gas are among those who have preliminarily agreed to purchase the Alaska project's output. Duval stated that Glenfarne requires 80% of the LNG plant's targeted annual capacity of 20 million tons secured under offtake deals before proceeding with a final investment decision.

The CEO expressed confidence in securing the remaining commitments, saying, 'The last 3 million tons will move very quickly.'

Glenfarne expects to start delivering gas via the pipeline portion of the project in 2029. The Alaska LNG project combines two phases: building a pipeline from the North Slope to Anchorage and constructing an export facility near Nikiski.