Glenfarne and ConocoPhillips Sign Gas Sales Agreement for Alaska LNG Project
Glenfarne Alaska LNG LLC and ConocoPhillips have finalized a thirty-year gas sales precedent agreement, ensuring sufficient natural gas volumes for Phase One of the Alaska LNG project. This agreement secures the necessary resources to meet Alaska's energy demands and supports the project's final investment decision.
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Glenfarne Alaska LNG LLC has entered into a thirty-year gas sales precedent agreement with ConocoPhillips, securing sufficient natural gas for Phase One of the Alaska LNG project. The agreement enables the transportation of gas via a 739-mile pipeline, addressing the state's energy security and supply shortfalls from declining Cook Inlet production.
Glenfarne's Alaska LNG project involves two phases: Phase One focuses on domestic supply, while Phase Two aims to establish LNG export facilities in Nikiski. With this agreement, Alaska LNG has commitments from all major North Slope producers, including ExxonMobil and Hilcorp Alaska.
The project is 75% owned by Glenfarne and 25% by the State of Alaska through its Alaska Gasline Development Corporation. The successful completion of this project could enhance energy reliability in Alaska, while also contributing to the state's economic development.
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