The US energy infrastructure developer Glenfarne has signed a preliminary agreement to supply 1 Mt/year of LNG from its planned Alaska LNG export project in Alaska (United States) to the South Korean trading firm POSCO International for 20 years. The deal also includes terms for POSCO to supply steel for Alaska LNG’s planned gas pipeline, which will connect the North Slope gas reserves to South-central Alaska and the export terminal. The Alaska LNG project consists of three components: a 1,299 km pipeline, a 20 Mt/year LNG export terminal in Nikiski, and a North Slope-based CCS plant to remove and store 7 MtCO2/year.
This agreement follows Glenfarne’s letter of intent (LoI) with the Japanese power group JERA, under which JERA will explore LNG offtake from the Alaska LNG project. The letter covers the potential sale of 1 Mt/year of LNG on a 20-year free-on-board basis. Glenfarne aims to reach a final investment decision (FID) for the pipeline by late 2025 and for the LNG export components in 2026.
In June 2025, Thailand’s state-owned oil and gas company PTT has signed a 20-year agreement with Glenfarne for the procurement of 2 Mt/year of LNG from the project.
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