Glenfarne’s Alaska LNG project receives interest of $115 billion from more than 50 firms

Energy developer Glenfarne announced on Tuesday that Glenfarne Alaska LNG has completed its first round of strategic partner selection with more than 50 companies who have expressed formal interest in over $115 billion contract value of the Alaska LNG project.

According to the Alaska LNG project document, if built, it will export up 20 million metric tonnes per annum supercooled gas.

This would allow U.S. LNG to be delivered directly to Asian markets, without the need to travel through the Panama Canal and around the Horn of Africa. Transit time and costs could be reduced.

In a press statement, Glenfarne stated that Alaska LNG's economic foundations allowed it to deliver LNG to Asia at lower prices than Henry Hub prices from the U.S. Gulf Coast.

The U.S. could triple its LNG export capacity by 2030, if the ongoing projects and the ones that are expected to receive financial approval this year succeed.

The company stated that an 807-mile-long 42-inch-wide pipeline will be constructed to transport natural gas for Alaska's domestic use and to supply the LNG export facility.

Phase One will deliver natural gas approximately 765 miles north of the North Slope, to the Anchorage area.

The second phase will also add 42 miles of pipeline to the Alaska LNG Export Facility in Nikiski. This facility will be built simultaneously with the LNG facility.

Glenfarne anticipates making a final decision about the domestic segment of the Alaska LNG Pipeline by the end the fourth quarter of this year. (Reporting and editing by Alan Barona in Bengaluru, Pooja Meon from Bengaluru)

(source: Reuters)