Alaska Gasline Development Corporation Partners with Glenfarne to Advance $44 Billion LNG Project

The Alaska state's Alaska Gasline Development Corporation (AGDC) entered into an exclusive agreement with developer Glenfarne to advance the Alaska LNG project, an AGDC spokesperson said on Friday.

The project is estimated to cost $44 billion and will start to deliver natural gas in 2031 and LNG exports would follow shortly thereafter, the spokesperson said.

Glenfarne will lead and fund the project development, including the Arctic Carbon Capture plant on the North Slope, the LNG export facility in Nikiski and the 807-mile (1,300-km) pipeline, which will transect the state.

The pipeline will carry up to 3.3 billion cubic feet of gas per day from the state's petroleum-rich North Slope to Alaska communities and an export terminal south of Anchorage.

The project, which was first approved under Donald Trump's administration, received Federal Energy Regulatory Commission authorization in 2020 and final legal approval in 2022, despite opposition from environmental groups.

(Reporting by Seher Dareen and Tanay Dhumal; Editing by Vijay Kishore)