LNG

Taiwan’s state-owned CPC Corp is moving closer to buying 6 million metric tons a year of LNG from Alaska LNG, with deliveries targeted from 2032 at the earliest as the company is considering investing up to $4.4 billion in the Glenfarne-led project.

Glenfarne, lead developer of the Alaska LNG project, claims that liquefying Alaska’s North Slope gas and shipping it to Asia would be at least 65% cheaper than shipping LNG from the US Gulf Coast. Brushing aside criticism over the project’s high cost, Glenfarne told Reuters that the Alaska LNG project itself entails some $1.4 billion per mtpa in delivery costs.

Glenfarne and Alaska Gasline Development Corp are working to transform Letters of Intent (LoI) from JERA and TotalEnergies of France into firm, financeable offtake contracts, a critical step toward a final investment decision (FID) on the long-mooted $54 billion Alaska LNG export venture.

The Alaska LNG project has emerged as South Korea’s likely first U.S. investment under a $200 billion trade deal, with Seoul signalling a possible announcement in late August or early September.

Glenfarne has warned Alaska’s proposed gasline tax package could still leave the $13.2–16.9 billion pipeline segment of the Alaska LNG project without a viable path to completion, undermining financing just as the project seeks to take FID.

US energy major Glenfarne has signed a letter of intent (LoI) with the Alaskan utility Chugach Electric Association to advance a gas supply deal tied to the $44 billion Alaska LNG development. Chugach wants to source North Slope gas via the Alaska gas pipeline, designated to meet Alaska’s domestic needs and supply feedgas to produce 20 mtpa of LNG for export.

Glenfarne Group has signed a preliminary 30-year gas supply pact with ConocoPhillips, securing sufficient volumes for Phase 1 financial close on the Alaska LNG project.

Glenfarne has signed a definitive agreement to supply 1 mtpa of LNG to the South Korean trading house POSCO International over 20 years from its planned 20 mtpa Alaska LNG project, the only federally authorized LNG export project on the U.S. Pacific Coast.

US developer Glenfarne has selected Baker Hughes to supply refrigerant compressors for the Alaska LNG terminal and power generation equipment for the North Slope gas treatment plant. Baker Hughes also pledged a “strategic investment” in the project.

Tokyo Gas has signed a Letter of Intent (LoI) to offtake of 1 tonne per annum (mtpa) from the Alaska LNG project, majority owned and developed by Glenfarne. The deal brings the 20 mtpa LNG project in Nikiski, Kenai Peninsula, closer to financial close.