The gasline company that the Alaska Gasline Development Corporation is in negotiations with to build the AK-LNG project was revealed this week to be the Glenfarne Group. The news came on Tuesday from the Alaska Landmine, a news and opinion organization that announced it on X. It has been confirmed by sources in the Governor’s Office.
At the end of a press availability on Jan. 6 with Gov. Mike Dunleavy, the AGDC President Frank Richards said the state-owned agency has entered into a framework agreement with a qualified energy producing company for Alaska LNG, a proposed gasline from the North Slope, which will include a Nikiski export facility, a pipeline, and carbon capture components. A formal agreement is expected to be announced soon. But Richards didn’t say who the company was, at the time. That news leaked out the next day.
“I don’t understand why people treat these things as so secretive. It always comes out anyway. It’s pretty loose when a deal of this nature gets broken by the Landmine,” said Jeff Landfield, publisher.
But it’s early, and it’s all a stage-gated process, where each party meets certain goals before moving forward, in order to de-risk the project for all parties at the table. The gas itself is owned by the oil companies with leases on the North Slope, and for many years has been very useful right where it is, reinjected into the drained underground oil geologic caverns to force out more oil for the Trans Alaska Pipeline System.
“The terms of the framework agreement are being negotiated or have been negotiated; the next step is for both parties to create a legally binding development agreement that will move the project forward,” Richards explained.
Glenfarne Group is a global company based in New York City and Houston, Texas and is a developer, owner, operator, and industrial manager of energy and infrastructure assets, like the one that Alaska has been trying to get out off of the drawing boards for decades.
Glenfarne, founded in 2011 by Australian Brendan Duval, also owns companies in South and Central America. In 2022, Glenfarne Asset Company, LLC acquired Termonorte Colombia S.A.S. (the “Plant” or “Termonorte”), a power plant located near the port of Santa Marta in Colombia.
“The acquisition reinforces Glenfarne’s commitment to providing grid stability to Colombia and the entire Latin American region,” the company said. Read more about Glenfarne at its website.
The group appears to have raised $4 billion for the $44 billion Alaska LNG project, which would bring North Slope gas to tidewater at Nikiski, where it could be exported to Asian markets. Offtakes would allow gas to be delivered to communities on the Railbelt, from Fairbanks to the Kenai Peninsula.
Never gonna happen, as long as the oil is coming out of the ground. The State is just continuing down a road of no return, with hundreds of millions of dollars lost in the process, which could have been used on real and viable infrastructure for the people of Alaska.
I see an annual route through the Northwest Passage for Alaskan resources delivered to Europe. I am sure Progressive America sees an ice worm that must be saved. And it gets worse. These same would murder a million to save one. And preach to you about their moral superiority. Trading success for failure because Nirvana is that close. Choosing a fantasy without restraint is better than a reality with rules.
run to reinforce the energy backbone of this state, tie th north end to the south end. hopefully the furie group blue crest group can tie into the developing grid, expand and develop our energy future. lets hope the egos can stay in check, the overall infrastructure gets developed.
Haven’t seen any published bids, so what is legal about this secretive behind closed door from the governor’s office?
What’s it going to cost the average Alaskan?
Glenfarne Group is owned by foreigners, even though headquarters is in New York. What ever happens, the controlling gas line operators must be American owned to stay within President Trump’s America first concept.
Governor Walker’s gas line proposal would have made China 75% owner, operator, builder, which would have taken control from American firms/contractors.
National Security doesn’t allow this type of investment.
Until a major agrees to sell the gas, there’s really very little to liquify.