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AGDC framework agreement for Alaska LNG project with Glenfarne
Kristen Nelson Petroleum News
Alaska Gasline Development Corp. President Frank Richards said at Gov. Mike Dunleavy's Jan. 6 press conference that "AGDC has reached an exclusive framework agreement with a qualified energy company to privately lead and fund the development of the Alaska LNG project."
The governor touted progress on the project before Richards spoke, saying there had been significant movement and he believes the project is closer to reality than ever.
Richards said the framework agreement covers the carbon capture plant on the North Slope, the liquefied natural gas export facility in Nikiski and the pipeline -- all phases of the project, including the initial pipeline phase, full gas treatment and full liquefaction.
Company named What Richards did not disclose was the name of the company with which it was working, citing nondisclosure agreements, with the parties working "to create legally binding development agreements that will move the project forward."
But just days later, on Jan. 9, The Anchorage Daily News broke the news: the company in question was New York-based Glenfarne.
A spokesperson from Glenfarne Energy Transition confirmed to Petroleum News in an email that Glenfarne "has entered into an exclusive agreement" with AGDC "for the development of the Alaska LNG project, including the Alaska Export Facility, Pipeline, and a Carbon Capture facility."
"As well, Glenfarne and ENSTAR Natural Gas Company have entered into an exclusive agreement to advance an LNG import project utilizing the Alaska LNG export site," the Glenfarne spokesperson said.
Glenfarne The parent company, Glenfarne Group, says on its website that its "total portfolio of assets throughout North and South America offers a combined output of 2.2 GW of power generation assets (either in development, operation or construction) and 12.8 mtpa of aggregated fully permitted late-stage development export capacity of LNG."
Glenfarne Group was founded in 2011 by Brendan Duval, chief executive officer and founder, who has raised more than $4 billion in capital since 2015 and completed 15 mergers and acquisitions.
Glenfarne Energy Transition was founded in 2022 "to address the 'here and now' global energy transition through complementary Global LNG Solutions, Grid Stability and Renewables businesses."
LNG projects Among its other energy assets, Glenfarne Energy Transition owns two LNG facilities under development in the Lower 48: Magnolia LNG near Lake Charles in southwest Louisiana, which Glenfarne acquired in 2020, and Texas LNG at the Port of Brownsville.
The U.S. Energy Information Administration lists both projects as approved liquefaction facilities not under construction. Magnolia LNG is listed at a capacity of 8.8 million tonnes per year and Texas LNG at 4.0 Mtpa.
The Magnolia LNG website says the facility will have four trains, each 2.2 Mtpa, and plans to deliver LNG to carriers for export overseas; to LNG carriers and barges for U.S. domestic marine distribution and the possibility of LNG bunkering; and to LNG trucks for road distribution to LNG refueling stations in Louisiana and surrounding states.
EIA shows Texas LNG as having two trains of 2.0 Mtpa each.
The Texas LNG website says: "A joint venture between Technip Energies USA and Samsung Engineering Co., Ltd. is leading the delivery of the facility. Texas LNG is led by an experienced team committed to creating one of the greenest LNG facilities in the world."
In November Glenfarne said it had selected Kiewit subsidiaries Kiewit Engineering Group Inc. and Kiewit Energy Group Inc. to lead engineering, procurement and construction of Texas LNG under a lump-sum turnkey structure. The company said it would work with Kiewit to complete pre-final investment engineering required for a final investment decision. Texas LNG said in September that it had executed another heads of agreement with a global LNG buyer and said with that agreement it had secured enough offtake commitments for a final investment decision.
--KRISTEN NELSON
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