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Alaska LNG seeks two more buyers before final investment decision

Lead developer Glenfarne Group says it needs 80% of its 20-million-ton capacity covered before making a final investment decision, after securing some offtake backing.

Reported · Written up by our desk · Energy

Alaska LNGs $55 billion LNG megaproject is moving closer to a final investment decision as lead developer Glenfarne Group reports talks with two additional potential buyers to secure offtake agreements for another 3 million metric tons of LNG, according to OilPrice.

The report says the project previously struggled to secure private financing because of high Arctic construction costs, logistical complexity, and large upfront property tax burdens that made lenders and potential Asian customers more hesitant.

OilPrice also notes that the projects outlook improved as the proposed 800-mile pipeline and LNG export effort gained stronger support from the Trump administration, with Energy Secretary Chris Wright telling CNBC that financing would be more straightforward once commercial offtakers are in place.

Glenfarne Group said it requires 80% coverage of its 20 million ton target capacity before making its final investment decision, after pursuing offtake arrangements to reach that threshold.

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