A major step forward in Alaska’s long-standing dream to commercialize North Slope natural gas became reality this week, as Glenfarne Alaska LNG LLC, an affiliate of Glenfarne Group, officially became the majority owner and lead developer of the Alaska LNG Project. The agreement, signed on Mar. 27 between Glenfarne and the Alaska Gasline Development Corporation (AGDC), marks a significant shift in momentum for the $44 billion energy infrastructure project.
The Alaska LNG Project is the only federally permitted LNG export project on the U.S. Pacific Coast. Designed to transport and export up to 20 million metric tonnes of liquefied natural gas (LNG) per year, the project will deliver gas from Alaska’s North Slope to domestic users and global markets in Asia and Europe. Glenfarne will now take the reins from AGDC, leading the project from front-end engineering and design through to a final investment decision and eventual construction and operation.
The agreement outlines a phased approach, with the first priority being pipeline infrastructure development to bring natural gas from the North Slope to Alaska communities. This phase is especially critical given the steadily declining production from Cook Inlet, Alaska’s traditional in-state gas basin.
Alaska Governor Mike Dunleavy hailed the announcement as pivotal in the state’s economic and energy future.
“Today is a historic day for Alaska,” Dunleavy said. “Oil was discovered in Prudhoe Bay nearly 57 years ago, and since then, Alaskans have never stopped pursuing a way to benefit from our North Slope natural gas. With Glenfarne, a proven leader in energy infrastructure, we’re now in a position to bring this great project to the finish line.”
Dunleavy added that the timing for this project couldn’t be more ideal.
“The President of the United States is behind this pipeline. His secretary is behind the pipeline. The need for gas is there—the need for gas in an AI supercomputing world that’s trying to electrify itself, and in some cases across Asia, decarbonize itself. This makes our gas really attractive,” he said.
The Alaska LNG Project is comprised of three major subprojects: an 807-mile, 42-inch pipeline from the North Slope to Southcentral Alaska; a 20 MTPA LNG export terminal in Nikiski; and a carbon capture facility on the North Slope that will remove and sequester 7 million tons of carbon dioxide annually.
Under the agreement, the State of Alaska will retain a 25% share in the new project entity, 8 Star Alaska, with the option to invest in any of the three subprojects. AGDC will continue to be a key partner to Glenfarne as development progresses.
AGDC President Frank Richards praised the perseverance and dedication of his team, who have worked for over a decade to shepherd the project through design and permitting.
“Through persistence, hard work, and the determination that defines the Alaska spirit, we’ve advanced Alaska LNG to the point where it has attracted a world-class developer like Glenfarne,” Richards said. “This project will ensure a brighter future for generations of Alaskans.”
Brendan Duval, CEO and Founder of Glenfarne Group, emphasized his company’s readiness to deliver.
“Glenfarne’s financial strength and expertise in managing complex energy infrastructure projects make us uniquely suited to lead Alaska LNG,” Duval said. “This project will not only provide energy security and cost savings for Alaska but also position Glenfarne to serve LNG markets in both Asia and Europe. We’re already building our Alaska team and look forward to partnering with communities across the state.”
Glenfarne owns fifty energy infrastructure properties throughout five nations, demonstrating its extensive experience. Glenfarne operates as Colombia’s major LNG importer while maintaining ownership of Texas LNG and Magnolia LNG, which are significant Lower 48 projects. Glenfarne develops approximately 33 MTPA of LNG export capacity after adding Alaska LNG to its current projects.
State leaders and national officials have promoted this project as a transformative opportunity for a long period. Dan Sullivan has actively supported the project as its main political supporter. During his presidential term, Donald Trump’s administration emphasized the Alaska LNG Project as a primary national infrastructure project. Trump expressed his support for this project through a joint congressional speech by announcing that it would draw “trillions of dollars” from his Asian allies Japan and South Korea.
According to Sullivan, the project gained immense importance when President Donald Trump mentioned it as one of his essential priorities for America during his joint address to Congress. The momentum will continue to build even though completion will take some time.
Sullivan traveled to Asia multiple times after Ukraine’s invasion to promote Alaska LNG and obtain investment from foreign nations. After numerous phone calls with them, Sullivan presented his detailed roadmap, “America’s Gasoline,” to Trump and other high-ranking officials.
The operational Alaska LNG facility will deliver more than three billion cubic feet of natural gas daily while providing affordable and environmentally friendly energy to people in Alaska and the United States and foreign nations. The project will generate between 10,000 construction jobs and maintain 1,000 operational positions permanently.
Visitors can find project details on the website at alaska-lng.com.
