Glenfarne, ConocoPhillips ink preliminary gas deal for Alaska LNG project

With this thirty-year agreement, Alaska LNG has now secured precedent agreements for sufficient volumes to support a Phase One final investment decision and supply enough natural gas to meet Alaska’s energy needs, according to a statement by Glenfarne on Monday.

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

Phase One consists of the 739-mile, 42-inch pipeline to transport natural gas to Alaska consumers to strengthen long-term energy security and address looming supply shortfalls resulting from declining Cook Inlet production.

Phase Two will add the 20 mtpa LNG export facility in Nikiski.

Alaska LNG now has agreements with all three major North Slope producers: ConocoPhillips, ExxonMobil, Hilcorp Alaska, as well as Great Bear Pantheon, a wholly-owned subsidiary of Pantheon Resources.

All major North Slope producers have now committed enough natural gas to support a Phase One final investment decision. Today’s milestone agreement establishes the commercial terms for ConocoPhillips to supply gas and help Phase One of Alaska LNG provide energy security for Alaska,” Adam Prestidge, president of Glenfarne Alaska LNG, said.

Australian engineering firm Worley completed primary FEED work on the Alaska LNG pipeline at the end of 2025 and has been provisionally named to provide engineering, procurement, and construction management services for the Alaska LNG mainline.

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 owns 75 percent of Alaska LNG and the State of Alaska, through AGDC, owns 25 percent.