Glenfarne Named Lead Developer of Alaska LNG Project
Today, Glenfarne Alaska LNG, LLC, an affiliate of Glenfarne Group, LLC, and the Alaska Gasline Development Corporation (AGDC) signed definitive agreements marking Glenfarne’s transition to the majority owner and lead developer of the Alaska LNG project. The project, which is the only federally permitted LNG export initiative on the U.S. Pacific Coast, aims to transport natural gas from Alaska’s North Slope to local utilities and export up to 20 million tonnes of LNG annually. Glenfarne will now guide the development of the entire project, overseeing its construction and operations.
Under the agreement, AGDC will divest 75% of 8 Star Alaska, a subsidiary it created to manage all Alaska LNG assets, to Glenfarne. As the lead developer, Glenfarne will be responsible for all remaining development work, starting with front-end engineering and design (FEED) and moving through to a final investment decision (FID). AGDC will maintain a 25% stake in 8 Star Alaska and will continue to play a key partnership role in the project.
The Alaska LNG project comprises three major subprojects: an 807-mile, 42-inch pipeline, a 20 MTPA LNG export terminal located in Nikiski, Alaska, and a carbon capture plant on the North Slope designed to remove and safely store 7 million tons of CO2 annually.
With declining natural gas production from the Cook Inlet, Alaska’s primary in-state gas basin, the first phase of the project will focus on the development of the pipeline infrastructure. The priority will be to bring North Slope gas to Alaskans as quickly as possible.
Once a successful final investment decision is reached, the State of Alaska will retain its 25% share in 8 Star Alaska and may opt to invest up to an additional 25% in any or all of the three subprojects.
Alaska Governor Mike Dunleavy expressed his excitement, saying, “Today marks a historic day for Alaska. For decades, Alaskans have strived to benefit from our North Slope natural gas, and now, with the help of Glenfarne, we are on the cusp of realizing that goal. The Alaska LNG project will bolster the U.S.’s geostrategic position in the North Pacific, enhance energy security for residents and military bases, and create significant economic opportunities for Alaska and beyond.”
Brendan Duval, CEO and Founder of Glenfarne, highlighted the company’s strengths, saying, “Glenfarne’s expertise in financial management, project development, and commercial strategy makes us the perfect partner to bring Alaska LNG to completion. This project will provide essential energy security and natural gas savings for Alaskans while creating a flexible, global supply chain that serves both Asian and European LNG markets. We’re already building our team in Alaska to support this transformative project.”
AGDC President Frank Richards acknowledged the tireless work of his team, saying, “After years of hard work and persistence, Alaska LNG has successfully advanced through design and permitting. We’ve now reached a point where we can engage Glenfarne, a world-class developer, to bring this project to fruition. Alaska LNG will help ensure a brighter future for Alaskans for generations to come.”
Glenfarne and AGDC had previously executed a letter of intent in June 2024, followed by an exclusive term sheet in December 2024. Today’s agreement solidifies Glenfarne’s leadership role in the project. Glenfarne is the owner of Texas LNG, which has sold out its capacity and is on track for a final investment decision later this year. The company is also the largest importer of LNG into Colombia and owns Magnolia LNG, an advanced LNG export project located in Lake Charles, Louisiana.
With the Alaska LNG project now in its portfolio, Glenfarne’s total permitted LNG capacity under development reaches 32.8 MTPA, further cementing the company’s position as a leading player in the global LNG sector. Beyond LNG, Glenfarne owns 50 energy infrastructure assets across five countries.
About Glenfarne Group, LLC
Glenfarne Group is a privately held developer, owner, and operator of energy infrastructure assets, with offices in New York, Houston, Dallas, Panama City, Santiago, Bogota, Barcelona, and Seoul. Through its subsidiaries, Glenfarne manages a diverse portfolio of energy infrastructure assets, with a focus on LNG, grid stability, and renewables. The company’s experienced leadership and operational teams are dedicated to advancing energy solutions throughout North and South America.
