The Alaska Gasline Development Corporation (AGDC) has teamed up with Glenfarne Alaska LNG, an affiliate of Glenfarne Group, to become the majority owner of a proposed liquefied natural gas (LNG) export project in Alaska. Under the deal, Glenfarne will acquire a 75% stake in AGDC’s 8 Star Alaska subsidiary, allowing it to lead the project’s development from front-end engineering and design (FEED) to final investment decision (FID). Wedoany.com Report-Mar 31, The state will retain a 25% equity stake, with the option to invest up to 25% in any or all of three key subprojects: an 807-mile pipeline, a 20 mtpa export terminal in Nikiski, Alaska, and a carbon capture plant capable of removing and storing 7 million tons of CO2 annually.
Alaska Governor Mike Dunleavy praised the collaboration, emphasizing that the project will strengthen Alaska’s strategic position in the North Pacific, ensure energy security for residents, military bases, businesses, and Asian allies, and generate significant economic benefits. Glenfarne Chief Executive Officer and Founder Brendan Duval noted that the project will provide energy security and cost savings for Alaskans while offering unparalleled flexibility to serve LNG markets in Asia and Europe through its three projects.
The Alaska LNG project will use clean, energy-efficient, and safe production methods to supply natural gas for commercialization and distribution within Alaska. The project is expected to deliver approximately 3.5 billion cubic feet of gas daily, primarily for international markets. Gas will be sourced from Prudhoe Bay and Point Thomson fields, transported via an 807-mile pipeline to the Nikiski LNG plant, which includes three LNG trains, two 240,000 cubic meter storage tanks, terminal facilities, and marine services. Two loading berths will accommodate LNG carriers up to 217,000 cubic meters (Q-Flex).
In early 2025, an executive order was issued to maximize natural resource development in Alaska, including the Alaska LNG project. Another Alaskan LNG terminal, Kenai LNG, recently underwent a name change, with a new owner planning to repurpose existing assets to start operations as early as 2026, with full-scale operations expected by 2028.
