Published: March 31, 2025 | Share This

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Glenfarne Alaska LNG, an affiliate of Glenfarne Group, and the Alaska Gasline Development Corporation (AGDC) signed definitive agreements for Glenfarne to become majority owner of Alaska LNG.

Alaska LNG is the sole federally permitted LNG export project on the U.S. Pacific Coast and Glenfarne will lead its development to construction and operations of the entire project. Alaska LNG is designed to deliver North Slope natural gas to Alaskans and Alaska utilities and export up to 20 million tonnes of LNG per year (MTPA).

“Glenfarne’s financial, project management, and commercial expertise is well matched to lead this vital project forward. Alaska LNG will provide desperately needed energy security and natural gas cost savings for Alaskans and give Glenfarne unmatched flexibility to simultaneously serve LNG markets in both Asia and Europe through our three LNG projects,” said Glenfarne Chief Executive Officer and Founder Brendan Duval.

“Glenfarne strongly believes in the benefit of partnering with the communities where we work, and we are already building our Alaska team to bring Alaska LNG to life,” added Duval.

Under the agreement, AGDC is divesting 75 percent of 8 Star Alaska, a subsidiary AGDC created to hold and manage all Alaska LNG project assets, to Glenfarne. Glenfarne assumes the role of Alaska LNG’s lead developer and will lead all remaining development work of Alaska LNG from front-end engineering and design (FEED) through to a final investment decision (FID). AGDC remains a 25 percent owner of 8 Star Alaska and a key partner to Glenfarne on the project.

Alaska LNG’s three subprojects are an 807-mile 42-inch pipeline, the 20 MTPA LNG export terminal in Nikiski, Alaska, and a North Slope-based carbon capture plant to remove and safely store 7 million tons of carbon dioxide annually.

“I’m incredibly proud of the ADGC team that has worked tirelessly over the past eleven years to develop Alaska LNG. Through persistence, hard work, and the determination that characterizes the Alaska spirit, Alaska LNG has successfully advanced through the design and permitting gauntlet to ignite global market momentum and attract a world-class developer,” said AGDC President Frank Richards.

“Alaska LNG will ensure a brighter future for generations of Alaskans and I look forward to working with Glenfarne as they lead Alaska LNG forward,” added Richards.

In light of steadily declining gas production from Cook Inlet, which has historically been Alaska’s primary in-state natural gas basin, phase one of the project will kick off immediately, prioritizing the development and final investment decision of the pipeline infrastructure needed to deliver North Slope gas to Alaskans as rapidly as possible.

Following a successful final investment decision, the state of Alaska will retain a 25 percent share in 8 Star Alaska and have the option to invest up to 25 percent in any or all of the three 8 Star Alaska subprojects.

“Today is a historic day for Alaska. Oil was discovered in Prudhoe Bay almost exactly 57 years ago and since then Alaskans have never given up on finding a way to also benefit from our North Slope natural gas,” said Alaska Governor Mike Dunleavy.

“Alaska has made a significant investment to develop Alaska LNG to the point where we can engage Glenfarne, a well-qualified industry leader, to bring this great project to the finish line,” added Dunleavy.

“Alaska LNG will strengthen the U.S. geostrategic position in the North Pacific, provide vital energy security for our residents, our military bases, our businesses, and our Asian allies, and unlock billions in economic benefit at home and abroad,” concluded Dunleavy.

Glenfarne Group is a privately held developer, owner, and operator of energy infrastructure assets based in New York, New York and Houston, Texas, with offices in Dallas, Texas; Panama City, Panama; Santiago, Chile; Bogota, Colombia; Barcelona, Spain; and Seoul, South Korea. Through its subsidiaries, Glenfarne owns and operates 50 energy infrastructure assets through three core businesses: global LNG solutions, grid stability, and renewables. The company’s seasoned executives, asset managers, and operators develop, acquire, manage, and operate energy infrastructure assets throughout North and South America.

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