The Alaska Gasline Development Corporation (AGDC) has revealed it is in advanced discussions with the Glenfarne Group regarding the potential acquisition of the $44 billion Alaska LNG project. This project is a massive natural gas infrastructure undertaking that aims to transport gas from Alaska’s North Slope to global markets via an 800-mile pipeline and a liquefaction facility at Nikiski on the Kenai Peninsula.
This announcement comes just days after AGDC confirmed a framework agreement with an undisclosed party, now revealed to be Glenfarne. The discussions could lead to Glenfarne taking control of one of the largest energy projects in the U.S., which has been in development for nearly a decade.
AGDC President Frank Richards stated that the corporation seeks a partner with the technical expertise and financial capacity to take the project forward. Glenfarne Group, a global infrastructure and energy firm with a focus on LNG and power generation, appears well-suited for this role. The company owns and operates LNG terminals in Central and South America and has experience in developing large-scale energy projects.
The Alaska LNG project has faced several hurdles over the years, including fluctuating global energy prices, permitting challenges, and funding constraints. However, its strategic importance remains critical, as it seeks to unlock the vast natural gas reserves of Alaska’s North Slope, estimated at 35 trillion cubic feet.
The proposed pipeline and export facility would enable the U.S. to strengthen its position in global LNG markets, particularly in Asia, where demand for cleaner energy continues to grow. If an agreement is reached, Glenfarne would oversee the completion and eventual operation of the project, with AGDC likely playing a supportive role.
Details of the financial terms or timeline for finalizing the deal have not been disclosed, but industry analysts suggest that Glenfarne’s involvement could provide the momentum needed to move the project toward final investment decisions.
