Advancing Towards Final Investment Decision: Glenfarne Alaska LNG Project

By entrusting Australia’s Worley with the final engineering works, Glenfarne Alaska LNG, a subsidiary of Glenfarne Group, is making significant strides towards a final investment decision (FID) for a liquefied natural gas (LNG) export project in Alaska.

Glenfarne has announced that Worley has commenced additional engineering tasks and cost estimations for the Alaska LNG pipeline to facilitate the FID process. Worley will build upon existing engineering work to update the project’s cost and ensure detailed planning for the pipeline.

Furthermore, Worley has been selected as the preferred engineering firm for the Cook Inlet Gateway LNG import terminal and designated as the project delivery advisor for Glenfarne’s Alaska LNG initiatives. The strategic partner selection process has also been initiated to collaborate with companies supporting project execution.

Brendan Duval, CEO and Founder of Glenfarne Group, emphasized the importance of prioritizing the pipeline development for addressing natural gas shortages and enhancing Alaska’s energy security.

With a projected cost of $44 billion, the Alaska LNG project aims to secure financing from Asian investors and is set to transport natural gas to meet both local demands and supply the export facility. The final investment decision for the pipeline is expected in 2025, with construction planned in two phases.

Phase One will transport natural gas from the North Slope to the Anchorage region, while Phase Two will extend the pipeline under Cook Inlet to the Alaska LNG export facility in Nikiski. This vital project is crucial for improving energy security regionally and globally.

Mark Trueman, President Americas at Worley, expressed gratitude for being chosen to support the Alaska LNG project and highlighted the company’s expertise in delivering LNG projects successfully.

Glenfarne Group, known for its ownership of Texas LNG and Magnolia LNG projects, anticipates the final investment decision for Texas LNG later this year. The company’s LNG portfolio includes a significant capacity under development, reinforcing its position in the LNG market.

Additionally, the Kenai LNG terminal in Alaska, now under new ownership, is poised to repurpose existing assets to accommodate additional natural gas supplies by 2026, with full-scale operations expected by 2028.