The developer of a gas terminal planned for South Texas is in talks to advance a long-delayed export proposal 4,500 miles away: the $44 billion Alaska LNG project.
Glenfarne Group is partnering with the Alaska Gasline Development Corp. (AGDC) to move the liquefied natural gas project forward, the parties told POLITICO’s E&E News this week. Federal energy regulators gave the LNG project a green light almost five years ago, but the effort has since faced legal challenges and difficulty securing firm commitments from buyers.
The proposal includes an 807-mile pipeline that would connect the state’s North Slope oil and gas fields with a planned export facility in south-central Alaska, as well as a carbon capture and storage (CCS) facility in Prudhoe Bay near existing oil and gas infrastructure. It remains to be seen how much the new arrangements might bring the LNG project closer to reality.
“After 10 years of planning, engineering and permitting, AGDC has agreed to an exclusive term sheet with Glenfarne to privately lead and fund the development of the Alaska LNG project,” said AGDC President Frank Richards in a statement.