Overview
- Glenfarne said a Monday agreement with ConocoPhillips secures enough North Slope gas to support a Phase One final investment decision.
- Phase One centers on a roughly 739-mile, 42-inch pipeline to serve in-state demand, and Phase Two would add liquefaction at Nikiski with about 20 million tonnes per year of export capacity.
- With this deal, Glenfarne says it now has commitments from ConocoPhillips, ExxonMobil, Hilcorp Alaska, and Great Bear Pantheon.
- Glenfarne owns 75% of the Alaska LNG project, and the State of Alaska holds 25% through the Alaska Gasline Development Corporation.
- ConocoPhillips shares rose about 1.5% Monday, and the developer has not said when it will make the Phase One decision.