Thai national oil company PTT is in talks to buy natural gas from a planned export project in Alaska, the lead developer announced Monday.
As part of the newly signed “Cooperation Agreement,” PTT is on track to purchase 2 million metric tons of gas annually for two decades, majority owner Glenfarne Group said in a news release. The deal outlines the process for Alaska LNG and PTT to move toward “definitive agreements” on the project, Glenfarne said, including for the long-term purchase of liquefied natural gas.
Glenfarne CEO Brendan Duval said the agreement with PTT “further symbolizes Alaska LNG’s tremendous momentum,” and he presented Alaska as a more stable alternative to other major energy-producing locations. Glenfarne became the main developer of the proposed Alaska LNG project earlier this year.
“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,” Duval said in a statement.
