LNG

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.

Seoul has firmly rejected US assertions that South Korea had committed to investing up to $54 billion in the proposed 20 mtipa Alaska LNG project. President Lee Jae-Myung said the government had only agreed to begin "working on" Alaska LNG, with any investment remaining conditional on the project’s commercial viability.