Few Alaskans had heard of the Glenfarne Group until it emerged last week as the company whose name was kept (unsuccessfully) under wraps by the Alaska Gasline Development Corporation during a Jan. 6 press conference. AGDC is a publicly owned agency tasked with building a gasline from the North Slope to Nikiski in order to develop another taxable export product for the state.
Who is this company that has stepped up to work with AGDC to finally get the gasline up and running?
The Glenfarne Group, started in 2011 by Australian Brendan Duval, is somewhat of a corporate conglomerate, working in several energy and capital-raising directions, including oil and gas, hydropower, and wind farms. But at its core, it raises money for big projects in energy. Based at 292 Madison Ave. in the heart of Manhattan, New York, it has offices around the world.
Although not a household name like ConocoPhillips or Exxon, Glenfarne is not a small player in the energy sector. It’s just a different type of player.
The company owns the Texas LNG project through Glenfarne Energy Transition, which has a “heads of agreement” for a long-term supply of liquified natural gas from a proposed facility at the Port of Brownsville, Texas. The Glenfare Energy Transition subsidiary is the same subset of Glenfarne that has the heads of agreement for the Alaska LNG project with AGDC.
Glenfarne subsidiaries also include:
EnfraGen, a developer, owner and operator of specialized renewable solar, hydro and grid stability assets across Latin American investment-grade countries. The firm is jointly controlled by Glenfarne Group and global private markets investment manager Partners Group founded in 1996 that has invested more than $221 billion (US) in private markets. EnfraGen has the Guanacaste Wind Farm in Costa Rica, and the Dos Mares Hydro Complex in Panama, which involves three run-of-river downstream hydro plants. It has two solar plants in Panama, and other energy properties as far south as Chile.
Alder Midstream, which is focused on building, owning and operating global energy infrastructure assets across the energy value chain. Magnolia LNG and Texas LNG are part of this business Glenfarne business line.
Glenfarne Energy Transition “provides critical solutions to lower the world’s carbon footprint, Through its strategic operations in Latin America and Southeast Asia addressing the ‘here and now’ of the global energy transition through its LNG, grid stability, and renewable power businesses.”
Glenfarne Energy Transition is owner and developer of the 8.8 million ton per year Magnolia LNG project in Lake Charles, Louisiana.
Prime Energia is a wholly owned subsidiary of Glenfarne Asset Company, LLC, a vehicle established by Glenfarne Group that is working in Colombia.
Glenfarne Merger Corp. was a “blank check company” incorporated as a Delaware corporation and registered with the Security and Exchange Commission “for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization, recapitalization or other similar business combination with one or more businesses.” CEO Duval was the owner of more than 50% of the stock of the company that popped up and delisted from the NASDAQ in 2022.
The now-shuttered corporation was a publicly traded special purpose acquisition company (SPAC). A SPAC raises capital through an initial public offering and then acquires or merges with a private company, that then becomes a public company without having to do its own initial public offering. It’s a new-fangled business workaround.
Harvard Business Review describes it this way: “A SPAC is a publicly traded corporation with a two year life span formed with the sole purpose of effecting a merger or “combination” with a privately held business to enable it to go public. SPACs raise money largely from public equity investors and have the potential to derisk and shorten the IPO process for their target companies, often offering them better terms than a traditional IPO would.”
Learn more about SPACs in this Harvard Business Review article.
It’s apparent that Glenfarne has the bonafides and business sophistication to complete the Alaska LNG project. It owns projects in Panama, Costa Rica, Colombia, Chile, and is part of ventures across the globe.
In 2024, AGDC President Frank Richards told the Legislature that AGDC was engaging potential developers and investors to fund the front-end engineering and development and commercial and legal contracts to move to final investment decisions.
As part of this process, Goldman Sachs was screening possible investors to ensure they have access to capital.
Richards said in his slide deck last year that the “Primary challenge is to build a coalition of investors that combined have
the capital and capability to move the entire project forward.”
That universe of potential investors is limited due to the relative size and complexity of the project, but at least the Alaska LNG project already has its federal permits. Some companies showed interest, met with AGDC, analyzed the project, and took a pass, but Glenfarne took the bait.
Glenfarne now must raise the $44 billion or more needed to build a carbon-capture plant on the North Slope, an LNG export facility in Nikiski, and an 800-mile gas pipeline with off-takes along the way to supply natural gas to Southcentral Alaska.
Where will the needed capital come from? Another two-year SPAC?
It’s a global investment opportunity and it will involve billionaires looking for return on investment.
In other projects Glenfarne has been part of, China has factored as a partner, but not always directly.
According to energy writer Jason Powers, who publishes a Substack newsletter focusing on big energy and pharmaceutical deals, Hunter Biden factors into this world of LNG, and not only with the Burisma project in Ukraine, where he served on the board while his father was vice president:
“As we have noted (here, here, here), Hunter [Biden]’s game involves U.S. LNG projects: Texas LNG and Magnolia LNG. These projects are still very hot – and moving forward under Glenfarne Energy Transition’s ownership. Both LNG projects were key CEFC’s targets – through their associate JaiQi Bao’s emails to Hunter – and both were acquired out of New York City-based entities, located just blocks from Glenfarne’s HQ on Madison Avenue (see below).”
Glenfarne has also had a partnership with Gunvor, a company that, according to Powers, has ties to the Russian oligarchy:
“Gunvor has an interesting history. Gunvor Group was co-founded by Russian Oligarch, Gennady Nikolayevich Timchenko, who allegedly sold his entire ownership in March 2014 due to his being placed on the U.S. sanctions list due to Ukraine-Russia confrontation. Tellingly, in terms of later targeting, Gunvor settled a $661,000,00 criminal fine with Biden’s DOJ on Friday, March 1, 2024, tied to committing fraud through bribery and money laundering through the usual locations, including: Panama, Caymans and Singapore (FBI Special Agent Jeffrey Veltri noted),” Powers wrote.
Gunvor controls 60% of the volume transiting through Estonia, and 41% of that transit via the port of Primorsk, Leningrad, according to Wikipedia. It’s the second-largest port on the Baltic. It is the fourth-largest oil trader in the world.
In March, 2024, Texas LNG (Glenfarne), announced signed a Heads of Agreement with Gunvor Group through its subsidiary Gunvor Singapore Pte Ltd for a 20-year LNG FOB (free on board) sale and purchase agreement of LNG from Texas LNG.
“Gunvor’s overseas offices conveniently overlaps with a host of usual suspects tied to Hunter Biden’s CEFC-related emails – Noble Group, Trescorp Alliance, Natixis, HSBC, Starr Companies – located within a lunchtime stroll in downtown Singapore,” Powers wrote.
In his recent Kindle book on Hunter Biden’s dealmaking, “The Hunter Biden Dossier,” Powers wrote, “It is one’s analysis that Hunter & his CCP-connected associates have acquired a substantial percentage of 2 LNG projects: Magnolia and Texas LNG. This acquisition is guised yet again behind an LLC (limited liability corporation) and SPAC (special purpose acquisition company) with the added twist of being held as a Sponsor ownership.”
Starting in February 2023, researchers like Powers stumbled upon connections in reviewing emails sent between Xiaopeng “Rick” Niu and JiaQi Bao to Hunter Biden.
“In these emails, the above LNG projects, their preferred financier (Natixis), tied back to a shared physical address 399 Park Avenue, Floor 2, New York City, New York where Rick worked (at Starr Insurance) and Magnolia LNG was held by First Wall Street Capital. Other intriguing connections involved the highest levels of the intelligence apparatus of the United States of America; and yet again, a Ukrainian geopolitical angle arose tied to LNG exports and Titanium mining,” according to Powers.
“Project White Light was the name given to the 240-page, 3-phase master BRI (belt and road initiative) agenda assigned to Xiaopeng “Rick” Niu, for consultation and business preparation, in emails. Niu was contacting CEFC (China Energy Fund Committee) top director in China and regularly emailing with Hunter’s key partners (Tony Bobulinski, Rob Walker, James Gilliar, Jim Biden) in the Spring of 2017. But it was in the Fall of 2017, after Hunter and Jim (and cutting out Walker, Gilliar, Bobulinski) received over $5 million from CEFC to set up Hudson West’s operations in New York that this Project began in earnest, for China, at least,” Powers wrote.
“Enter JiaQi ‘Jackie’ Bao (CEFC), the seductive Chinese secretary for Hunter, to provide Chinese translation of all U.S. energy assets in presentation form and to recommend which projects enticed CEFC (& the CCP’s) appetites the most. Even with project disruption tied to the arrest of Patrick Ho in November 2017, Jackie was undeterred. By January 2018, she provided the investing financier – Natixis – that happened to be used by EnfraGen Capital and Glenfarne Group. Glenfarne is the company that acquired the rights to Magnolia and Texas LNG. As it turns out, Hunter knew Texas LNG’s owner personally in Third Point Management CEO Dan Loeb, a billionaire, and emailed Third Point personnel from 2010-2016,” Powers revealed.
Read the Tony Bobulinski interview about Hunter and Joe Biden in the FBI transcript here.
“Hunter’s involvement in CEFC seems to have ended in March 2018 with a final $1,000,000 deposit to his Wells Fargo account and “wrap-up emails” from China Jackie. But in March 2019, just days before his laptop was taken to a repair shop, both China Jackie and Slick Rick contacted Hunter Biden out of blue to encourage that Joe run for the presidency,” Powers continues.
“The story of how Hunter Biden (and/or his CCP-connected buddies) potentially acquired a stake in two export LNG projects lay inside this intelligence briefing,” he wrote.
While this was happening in 2017, Alaska briefly became part of China’s Belt and Road Initiative, when Gov. Bill Walker signed an agreement to have China and its communist-owned entities finance and build the Alaska LNG project. Walker and AGDC, under his close direction, nearly handed the entire project over to the communists.
One month after China President Xi Jinping met in Anchorage with Gov. Walker, the first China Belt and Road Forum was held in Beijing in May of 2017, attended by over 100 countries. UN Secretary-General Antonio Guterres lauded the Belt and Road Initiative’s “immense potential,'” praised it for having “sustainable development as the overarching objective,” and pledged the “United Nations system stands ready to travel this road with you,'” according to the Council on Foreign Relations.
Right after Gov. Mike Dunleavy was sworn in as governor in 2018, that agreement was cancelled by Dunleavy and the project was once again in search of a free-market financing and development partner. Meanwhile, China has expanded its Belt and Road Initiative to all corners of the world.
Soon, 139 countries were formally affiliated with China’s Belt and Road Initiative.
Since then, the Belt and Road Initiative, a movement toward China’s global dominance, has extended its reach to nearly every corner of the globe.
What does China now have to do with Alaska LNG?
America is still the big holy grail for the Chinese, who have become wise to the fact that they can’t participate directly in US LNG projects. Their experience in Alaska with Gov. Walker gave them a lot of information about public perception and political realities.
Yet China as a country and its Chinese billionaires had access to LNG through Hunter Biden and associates in the years that started while Joe Biden was vice president and up until he became president in 2020.
In January 2024, China was home to the most billionaires in the world — 814, surpassing the United States, according to the Hurun Global Rich List. Companies looking for big investors always have to consider China.
Whether Glenfarne or its subsidiaries have direct or indirect China investment ties is not clear, since it is a private equity firm whose investors are difficult to track due to how these companies are heavily layered with institutional and private investors, blind trusts, and the magic of the SPAC pop-ups.
But Jason Powers, whose particular interest is actually the Hunter Biden connections, believes there are, according to several of his slides in his recent documentary on Hunter Biden and LNG. Here are just two of them:
For instance, while President Joe Biden was shutting down petroleum projects around the country, Magnolia, the Louisiana subsidiary of Glenfarne, was getting a federal permit from the Biden Administration to export LNG to non-free trade countries. China is such a country. The project is still under development.
Read the company’s request for the permit at this federal Department of Energy link.
Read details from Global Energy Monitoring Wiki at this link.
Jason Powers pulls more of the threads of this complex weave of international private equity and energy investment players in his explanatory documentary on Rumble. It is over two hours long but has an explanation of how the financing of these international deals involve everything from China to the Bidens to the fentanyl drug trade:
An absolute pipe dream. Alaskan culture and economic ideology are incompatible with returns on investments. There are too many places in the world where investors can earn a reasonable return. Soaring inflation, high interest rates, no skilled labor, burdensome regulations, and a culture that despises success. This ain’t 1970.
“…….This ain’t 1970……..”
It’s 1970 on steroids. The Alaska Pipeline was a direct result of Arab Oil Embargoes. World oil politics created the Alaska oil industry, and it’s now killing the Alaska gas industry potential and keeping our oil industry to minimum flow.
This company has too many smoke and mirror to trust.
At this point the gas is better of in the ground as Alaska will get taken on this deal.
Biden involvement should be a red flag.
“……. the gas is better of in the ground as Alaska will get taken on this deal……..”
There it is. It didn’t take long. Combine this attitude with the environmental kooks, and wee end up with nothing, including enough gas to heat our own homes. This state is fully fubar. Let a lack of gas and money clean it out. It’s overdue.
You or I don’t know the real deal but you’re not looking hard enough if you think this new company is going to developer our gas and not have the upper hand.
Who’s pocket gets lined yours or someone else?
Until we have a open and fair offer I say no because we won’t find out we got screwed until it’s to late.
“…….Who’s pocket gets lined yours or someone else?…….”
You again illustrate the problem. I don’t expect my pockets lined. I want natural gas for home heat, and I want fair and reasonable production taxes in state coffers. Nothing more, nothing less. Whoever makes that happen deserves a profit, including the investors, pipeline builders, and operators.
Or not. If this state continues to expect somebody to pay them without profiting, I’m fine cutting and splitting wood, especially since that kind of home heating energy will result in an Alaska population of 250,000 again.
The deal will not get you your cheap gas.
You can’t believe that a 50 to more likely 100 billion dollars won’t take their share and mode.
With this amount of money someone gets rich my bet it’s not Alaskans.
Your right about gas for Alaska the best alternative is Cook Inlet where there is plenty of gas at a lesser cost.
A pipeline from the North Slope oilfields offers a near endless supply, natural gas piped throughout the Fairbanks area, and exporters to help pay for the pipeline.
Cook Inlet gas offers plenty of gas, but no gas for Fairbanks (along with no propane production for the Yukon River drainage) and nobody to help pay for local production, as well as a small enough market that doesn’t attract investors.
Importing LNG? I’m okay with that, with one question (asked regularly, and so far with no replies):
Where will it come from?
It seems too many hands in the mix w/shipping gaps where no participant is accountable. This is a sucker play! Leave it in the ground until there’s a reputable player.
“……The Glenfarne Group, started in 2011 by Australian Brendan Duval, is somewhat of a corporate conglomerate……..”
Don’t you know it’s coming?:
“Australia my —! It’s Alaska’s gas!”
If you listened to morons yesterday, you’ll listen to them today…………
Exactly.
This will be the 2nd most expensive oil & gas project at $44B – before guaranteed cost overruns.
The biggest was $50B, the Kashagan Field (Google it).
One of the largest projects, of any kind, comparable to the original Alaska pipeline and the Panama Canal.
The Glenfarne Group does not have the resources – there will be a MASSIVE learning curve building a pipeline in the Arctic.
Whoever is responsible for steering this “pipeline dream” in this direction should be fired and criminal wrongdoing should be seriously looked into.
Truly outrageous.
Trump will NEVER let these players do this project.
I want to see Presidents Trumps position on permitting for this LNG project which is very complicated as conglomerate businesses can be before I start investing in LNG stocks.
I challenge MRA to research the disclaimers of Glenfarne Group LLC for this particular project and prior projects in Panama, Costa Rica, Columbia and Chile and what Alaska would really get out of it.
I think you mean $44 Billion, not $44 million.
That is exactly correct, it is $44 billion, 6 years ago. It is even more today.
The state is putting up $50 million to pay Glenfarne if they can’t do the deal. More money out the window for NOTHING.
A ‘quick’ personal assessment of Glenfarne Group: … About as trustworthy as an X-Wife with financial, fidelity and addiction issues! Who is vetting these potential partners and what standards are applied – mandated?!?!
Good article Suzanne 🙂
This is stellar investigative reporting of a type we can only find on Must Read Alaska. Was the Dunleavy gas line press conference so convincing to you that you believe $50 million of state money should go to this company? Will it be the minority or the majority, in the House or in the Senate that raises the first red flag?
That press conference included no buyers of natural gas and no owners of natural gas, nor did it name any that want to buy or sell North Slope natural gas. It didn’t even name this alleged financial firm, only said they would be named in 3 months time. Again, should the Alaska Legislature, the only appropriating agency in state government, commit or endorse giving $50 million to this organization?
“…Glenfarne, the company agreeing to build Alaska LNG project.” Uh, no. That’s not true at all Suzanne. They have not agreeded to build this project. What they have agreed to do is accept $50 million dollars of our money to study/update the cost estimate.
This project makes no sense. Russia is moving LNG to the Asian markets with ice breaking LNG tankers. No expensive pipeline or compressor stations needed. Alaska remains stuck on stupid because the top guy at AGDC is making around $400,000.00 per year and he wants to keep the money rolling in. That requires that he pretend that a gasline makes economic sense. But it doesn’t. Taking LNG off the slope with tankers with a much lower capex is the only thing that would make our project competitive.
It says “agreeing” in that there is a heads of agreement. – sd
Suzanne, I’m glad you are covering this subject, but you’ve been misled by AGDC. Here’s what Frank Richards said several days ago:
“The next step is for both parties to create legally binding development agreements that will move the project forward,”
It might be helpful to explain what has, and has not, happened. This project doesn’t have a firm cost estimate. Alaska is going to pay this company $50 million to update the cost estimate. This is money we will lose, because we don’t have a competitive project for reasons I’ve cited, above.
Before a project can move forward we need to know the cost to build and operate the facilities. Then we can know the tariff that will be required to operate the gasline. Only then can the leaseholders of the gas make commercial agreements with those who might want to buy the gas/LNG. None of this has happened. There is no contract to purchase, or sell the gas. None. Without such an agreement, there is no project.
Therefore, Glenfarne has nothing to build. AGDC and Dunleavy have been deceptive in how’ve they’ve sold this development. The only thing that has happened is we are about to lose $50 million dollars.
“…….Russia is moving LNG to the Asian markets with ice breaking LNG tankers……..”
I wonder if that’s where Enstar is expecting to obtain natural gas for our homes here in Southcentral? My bet is that Washington DC will shut that down, too. So where are we going to get gas imported from?
Reggie, we could get LNG from Canada, cheaper.
Russia is not going to be selling us LNG. They are in the “time out” corner with economic sanctions for being state sponsors of terror.
M, it’s our government that is the #1 state sponsor of terror for the past 80 years.
That’s all our foreign policy is, unending regime changes and 19th century style overseas adventures, wars of choice, using what were modern weapons. We have fallen behind Russia on our weapons systems now too, and are unable to manufacture anywhere near the quantities needed for an actual war.
Russia is not in a time out box, they declared their sovereignity from the US failing global empire and are doing very well because of it. Including a network of pipelines for oil and gas located deep in the Eurasian landmass to the up and coming Asian markets. They utterly destroyed the massive US created, commanded and armed proxy NATO Ukraine Army on the field of a real war.
The difference is their economy, which is based on the sale of natural resources and manufacturing useful goods pays for their defense, while we just add to the $39 trillion debt financing our permanent governments’ aggressions.
Our government hates us as much as any foreign peoples.
Until Alaska commences to act as a sovereign state and builds our infrastructure and exploits our resources in a responsible manner, our destiny and future remain bleak.
Brian, so do you add vodka to the Koolaid you drink before you type your posts? 45, civilized, nations of the world refuse to do business with Russia. NATO has grown by two nations, and the Putin’s terror campaign has killed or injured over 600,000 Russians.
How long before Putin is whacked? Lots of mothers who have lost their sons to Putin’s evil would love to finish him off.
“……..we could get LNG from Canada, cheaper…….”
How cheap? Is there any information on volume and price contract details?
Reggie, that’s all subject to changing market conditions, contract sizes, and duration, and more- to include shippoing distances. (The shorter, the better.)
Right now US LNG spot prices are around $7.00 per MMBTU.
‘https://ycharts.com/indicators/us_natural_gas_liquefied_exports_price#:~:text=Basic%20Info,from%207.08%20one%20year%20ago.
You got that right. No pipeline is needed. Build your compressors at the source of the gas and ship from there—way too much smoke and mirrors in this Glenfarne group.
How may hours did you put into that research, Suzanne?! And do you have good personal security guards? Or just figure that you are “small” enough that your expose is not a great risk to them? You keep this up and we might need to start praying for your safety just we are still doing for a certain president-elect. In fact, I think I will.
I put plenty into it!
Thanks for sharing Suzanne!
When I saw that Alaska LNG wound up in the Glenfarne Group portfolio —- WOW!
Hunter’s pardon ran until December 1, 2024! So you can imagine the ink on certain things were done while Joe was in the White House. And who knows…
There is a big SOUTH FLORIDA component to these dealings. HUGE -hint: WELLS FARGO CENTER in downtown.
There is also a guy that KNOWS a Hunter Biden lawyer friend real well (Stephen Patrick Lynch) who is in the market for the Nord Stream 2 pipeline (to buy it) sometime after the bankruptcy. (May of 2025.)
Lynch is a US Citizen that spent 20 years abroad in Russia amassing energy assets (Rosneft/Gazprom that kinda of deals)….that came back to US and dumped $300K into Trumps 2024 campaign. The same thing Ukrainian Les Parnas did (to gain access to Trump & Rudy). All out of S. Florida.
Isn’t it amazing how many different twists and turns to this ongoing con by our prostitute politicians that Alaskans will fall for? What’s it been, almost 40 years and how many millions of dollars that have been flushed down this hole? What’s next, can we pay for a study on building bridges on the moon?
Natural, the irony that as a “state” we are unable to manage infrastructure and resources that reliably provide natural gas to a few hundred thousand people, 90% of whom live near a pipeline already tapping massive oil and gas reserves, or near Cook Inlet with existing infrastructure.
The only thing our “leadership” is effective at is blowing money on state unions and ineffective programs to create dependency or kissing the rear of the federal government.
Very true comment.
This is the new normal for everybody everywhere. It keeps educated paper pushers employed while simultaneously saving the environment from invisible vapors.
Don’t know where you got that link, but this is the US Amazon link:
amazon.com/Hunter-Biden-Dossier-Project-White/dp/B0CJLFFC4Y/
It’s Glenfarne Energy Transition
“An energy transition is a major structural change to energy supply and consumption in an energy system. Currently, a transition to sustainable energy is underway to limit climate change. ”
This company is all about carbon capture and climate change BS. We want nothing to do with that garbage.
Next!
There’s a lot of natural gas all over the world, and all of it much cheaper than pipelined North Slope gas would be.
No company is going to ‘invest’ $50 billion in such a pipeline.
This is a mind-altering exercise in stealing, theft and all-round world chicanery by and with the Biden Family Grifting Family Syndicate.
The subterfuge is world-class
Just image that this is just one deal with Joe and his group — how many more world class deals are there not yet tipped over??
Joes reward $??? Millions all while being Vice President and PRESIDENT of The United States of America
so is Ted Cruz in business with Hunter Biden and Magnolia? I was looking for info on the Magnolia getting a federal permit from the Biden Administration to export LNG to non-free trade countries. Interestingly found this:
Sen. Ted Cruz, R-Texas, hailed the new permits Wednesday as “a tremendous victory for Texans, American jobs, trade and our European allies who will now have greater access to our clean natural gas exports.’’
A source familiar with his thinking said Cruz planned to release a Senate hold on Brad Crabtree, President Joe Biden’s nominee to be assistant Energy secretary for fossil energy and carbon management.
Great work Suzanne.
At $2.00 per mm almost any gas line is not economical. Try this on for size: in the early 1980’s, Northwest Gas spent about $200 million on a cost estimate for the FERC filing. In 2024 dollars that is about $647 million for an estimate. That did not include estimating cost of the North Slope facilities, just the pipeline. According to the above, someone is going to spend $50 million and get a reliable cost estimate for North Slope processing, an 800 mile pipeline, and an LNG facility? While you’re trying to get your brain about that number, here’s another number, if $44 billion is a ballpark estimate, the preconstruction – design, permitting, surveying, etc., is about 15% of that, or $6.6 billion. That before the pipe is purchased or a trench is dug.
Reading Suzanne’s article, I couldn’t help thinking, “Just because I’m a conspiracy theorist, doesn’t mean there really isn’t’ a conspiracy.” Having said that, could it be that Glenfarne is going to use our $50 million to hustle a few billion out big time investors, then just scrap the project and walk away with the pieces? Anyhow, its basic that we investigate and see how much Glenfarne and their owners personally have at risk, or would have at risk, in exchange for our $50 million.
“…….At $2.00 per mm almost any gas line is not economical……..”
Regardless of price, I find it impossible to believe that liquifying and shipping on vessels to then be de-liquifiued and sent to buyers by pipe can possibly be cheaper than pipeline from source to consumer, which has been the cheapest form of shipping for all liquids and vapors forever.
Now we see how the fast growth for a little startup happened so fast. It seems we aren’t the only dummies; many peceeded us! What’s that term used, Investment Equity? Maybe Equity Pirates would more descriptive.
When Jeffrey Hildebrand owns an interest in the gas line project and Bill Armstrong has success drilling on east side near Point Thomson for gas , might happen .
President Elect Trump
Has intimated that he will make the gas line project from the slope a “ national security interest “. That would provide both guarantees , cheaper financing for the long awaited project . Not to mention a congressional mandate .
WOW !!! GREAT ARTICLE
SUSAN THANK YOU
RUSKY REDNECKS INC
WITH YA !!
Good work Suzanne!
Suzanne: caught up enough as I was working on a book project of mine. Up at my substack.
I appreciate your work and efforts to blend together all that research.
I am no energy expert — certainly not on the validity of these boondoggles – $30B+ potential loans…and I don’t see any way to make the payback…this project is just as bad as the others. (a good deal worse!)
I tweeted to you. Thanks again!
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