ConocoPhillips agrees to supply natural gas to Alaska LNG, Glenfarne moves closer to FID

Glenfarne Alaska LNG LLC, a subsidiary of Glenfarne Group, signed a gas sales precedent agreement with ConocoPhillips Alaska to supply natural gas produced on Alaska’s North Slope for the Alaska LNG project.

With the 30-year agreement, which establishes the commercial terms for ConocoPhillips to supply gas for the project’s first phase of development, Alaska LNG has now secured precedent agreements for sufficient volumes to support a first-phase final investment decision, Glenfarne said.

Glenfarne is developing Alaska LNG in two financially independent phases. Phase One consists of the 739-mile, 42-in. OD pipeline to transport natural gas to Alaska consumers. Phase Two will add the LNG export infrastructure in Nikiski.

Alaska LNG now has agreements with North Slope producers ConocoPhillips, ExxonMobil, Hilcorp Alaska, as well as Great Bear Pantheon LLC, a wholly owned subsidiary of Pantheon Resources plc.

Overall, Alaska LNG will consist of an 807-mile 42-in. pipeline to deliver natural gas from Alaska’s North Slope to meet Alaska’s domestic needs and produce 20 million tonnes/year of LNG for export.

Glenfarne owns 75% of Alaska LNG and the State of Alaska, through the Alaska Gasline Development Corporation, owns 25%.