Danaos in Alaska LNG move

US energy firm Glenfarne announced the strategic partnership with Danaos to advance Alaska LNG in a statement on Tuesday.

“Danaos, with their reputation for high-quality ship ownership and operations, is a valued addition to our roster of Alaska LNG strategic partners,” said Brendan Duval, chief executive officer and founder of Glenfarne.

“One of Alaska LNG’s major competitive advantages is our short shipping distance to Asia, featuring canal-free routes avoiding contested waters. The addition of reliable shipping solutions meaningfully advances the development of Alaska LNG,” he said.

Danaos currently manages 86 vessels with 25 additional vessels under construction.

“As Alaska LNG opens up a major new source of North Pacific energy, Danaos is pleased to offer our shipping expertise to reliably serve customers across the region and around the world with safe, competitive LNG delivery,” Danaos CEO John Coustas said.

“This transaction provides us with an opportunity to expand on our expertise in global seaborne transportation and expand the footprint of Danaos in the LNG and energy segments,” he said.

Last year, Glenfarne signed definitive agreements with state-owned Alaska Gasline Development Corporation to become the majority owner of the giant Alaska LNG export project.

Glenfarne is developing Alaska LNG in two financially independent phases to accelerate project execution.

Phase One consists of a 739-mile, 42-inch pipeline to transport natural gas from Alaska’s North Slope to meet Alaska’s domestic energy needs.

Moreover, Phase Two will add the LNG liquefaction terminal and related infrastructure to export 20 million tonnes per annum (mtpa) of LNG.

Since becoming the lead Alaska LNG developer, Glenfarne has secured preliminary commercial commitments from leading LNG buyers in Japan, Korea, Taiwan, and Thailand for 11 mtpa of LNG, according to the firm.

The company also secured strategic partnerships that include Baker Hughes and Posco International.