Glenfarne Brings Thailand into Alaska LNG Pipeline Project

“Glenfarne and Alaska LNG are pleased that PTT and the Thai government have realized the strategic security, cost, and stability advantages offered by the Alaska LNG project,” says Adam Prestidge, president of Glenfarne Alaska LNG. “With today’s and previously announced agreements, Alaska LNG has now reserved 50 percent of its available third-party LNG offtake capacity to investment-grade counterparties, and the project has overwhelming interest from additional counterparties globally.”

Days before Glenfarne’s involvement in the project, Taiwan’s state-owned petroleum company, CPC Corporation, signed an agreement to invest in Alaska LNG and buy gas exported from the state. Furthermore, Glenfarne says it has completed the first round of its strategic partner selection process, with more than fifty companies participating from the United States, Japan, Korea, Taiwan, Thailand, India, and the European Union. These potential partners have formally expressed interest for more than $115 billion of contract value.

“Recent events in the Middle East once again underscore the significant need for Alaska LNG that comes from a secure, stable, and abundant source without traversing through potentially contested waters,” says Brendan Duval, CEO and founder of Glenfarne. The company is also developing Texas LNG, with a final investment decision expected later this year. Glenfarne recently announced that its capacity is fully sold out. Glenfarne also owns sixty operating energy assets across five countries through three core businesses: Global LNG Solutions, Grid Stability, and Renewables.

Glenfarne is actively engaged with pipeline contractors and partnering with Worley to complete the engineering to support a final investment decision for Alaska LNG, an 807-mile 42-inch pipeline. Phase 1 will deliver natural gas approximately 765 miles from the North Slope to the Anchorage region. Phase 2 adds compression equipment and approximately 42 miles of pipeline under the Cook Inlet to Nikiski for export of 20 million tonnes per year.

Duval says, “This agreement with PTT further symbolizes Alaska LNG’s tremendous momentum, well on its way to becoming a reality that will solve Alaska’s natural gas shortage while providing jobs, business opportunities, and increased economic development for Alaska residents, businesses, and military facilities,”