Glenfarne and Danaos Forge Strategic Partnership to Advance Alaska LNG Project
Glenfarne Group, LLC (“Glenfarne”) announced today that its subsidiary, Glenfarne Alaska LNG, LLC, the majority owner and lead developer of the Alaska LNG Project, has entered into a strategic partnership with Danaos Corporation (“Danaos”) (NYSE: DAC), one of the world’s largest independent owners and operators of containerships. The partnership is designed to accelerate the development of Alaska LNG, with a particular focus on ensuring reliable shipping solutions for the project’s global LNG customers.
Under the terms of the agreement, Danaos will facilitate the construction and operation of a minimum of six LNG carriers specifically designed to transport LNG from Alaska to international markets. In addition, Danaos will make a $50 million capital investment to support the ongoing development of Alaska LNG. This collaboration marks a significant milestone for Glenfarne, enhancing the project’s ability to deliver LNG efficiently and competitively while leveraging Danaos’ renowned expertise in maritime logistics and vessel management.
Danaos, with their outstanding reputation for high-quality ship ownership and operations, represents a valued addition to our portfolio of strategic partners for Alaska LNG,” said Brendan Duval, Chief Executive Officer and Founder of Glenfarne. “Alaska LNG’s major competitive advantage lies in its relatively short shipping distance to Asia, featuring canal-free routes that avoid contested waters. The integration of reliable shipping solutions with our project development significantly strengthens our ability to serve global LNG markets. Working with Dr. John Coustas and the Danaos management team has been a highly positive experience, and we look forward to a productive collaboration.
Dr. John Coustas, Chief Executive Officer of Danaos, also emphasized the strategic significance of the partnership: “As Alaska LNG opens a major new source of North Pacific energy, Danaos is pleased to contribute our shipping expertise to ensure the reliable delivery of LNG to customers across the region and worldwide. This partnership not only allows us to leverage our experience in global seaborne transportation but also expands Danaos’ presence in the LNG and broader energy sectors. It is an opportunity to combine our operational excellence with Alaska LNG’s promising infrastructure development.
Danaos operates one of the most technologically advanced and environmentally responsible fleets in the maritime industry. Their vessels incorporate cutting-edge engineering and design, prioritizing safety, efficiency, and sustainability. Currently, Danaos manages a fleet of 86 vessels, with 25 additional ships under construction, reflecting the company’s ongoing commitment to fleet modernization and operational excellence.
Glenfarne is developing Alaska LNG in two distinct, financially independent phases to accelerate the project’s execution and optimize capital allocation. Phase One focuses on constructing a 739-mile, 42-inch natural gas pipeline from Alaska’s North Slope to serve the state’s domestic energy market. This phase ensures a reliable supply of natural gas to meet growing local energy demands. Phase Two will establish an LNG liquefaction terminal and supporting infrastructure, enabling the export of approximately 20 million tonnes per annum (MTPA) of LNG to global markets.
Since being appointed the lead developer of Alaska LNG in March 2025, Glenfarne has made significant progress in securing both commercial commitments and strategic partnerships. The company has garnered preliminary agreements from top LNG buyers in Japan, Korea, Taiwan, and Thailand, covering a total of 11 MTPA of LNG. In addition, Glenfarne has formed strategic partnerships with industry leaders, including Baker Hughes and POSCO International, enhancing the technical and commercial viability of the project. Glenfarne holds a 75% stake in Alaska LNG, with the Alaska Gasline Development Corporation retaining the remaining 25%. The company was advised by Sealion Capital, LLC, in the structuring and execution of these agreements.
The partnership with Danaos represents a critical step in addressing one of the most vital components of LNG development: reliable, efficient, and sustainable shipping. LNG transportation requires highly specialized vessels capable of handling cryogenic cargo while adhering to strict safety and environmental standards. By collaborating with Danaos, Glenfarne ensures that the Alaska LNG Project benefits from world-class shipping operations, minimizing logistical risks and enhancing the project’s overall competitiveness in the global LNG market.
Moreover, the Alaska LNG Project’s proximity to major Asian markets gives it a strategic advantage over other LNG export projects. The canal-free shipping routes offered by the project allow for faster, more direct delivery to key markets, avoiding congested or geopolitically sensitive maritime passages. This combination of shorter transport times and reliable delivery capacity positions Alaska LNG as a preferred supplier of LNG in the Asia-Pacific region.
The $50 million capital investment by Danaos also reflects a shared commitment to advancing energy infrastructure projects that deliver tangible benefits to both local and international stakeholders. With increasing global demand for clean, low-carbon energy solutions, the Alaska LNG Project is well-positioned to play a significant role in meeting the energy needs of the 21st century, providing a secure and environmentally responsible source of natural gas to the international market.
Brendan Duval concluded, “Partnering with Danaos is a game-changer for Alaska LNG. It reinforces our ability to execute the project efficiently while ensuring safe, reliable, and competitive delivery of LNG to our customers. We are confident that this collaboration will create lasting value for all stakeholders and accelerate the development of one of the most important LNG projects in the world today.”
Through strategic partnerships like this and continued investment in infrastructure and technology, Glenfarne is demonstrating its commitment to advancing sustainable energy solutions while fostering global energy security. The collaboration with Danaos underscores the project’s holistic approach, combining state-of-the-art pipeline and liquefaction facilities with cutting-edge shipping operations to deliver LNG safely, efficiently, and competitively to international markets.
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