Glenfarne Group welcomed the announcement of more than $50 billion of South Korean investment in Alaska LNG, providing a potential source of capital to advance the project toward a final investment decision and construction. Glenfarne is the lead developer and majority owner of Alaska LNG.
The company plans to work with the U.S. and South Korean governments to finalize the investment structure and complete the remaining steps needed to reach a final investment decision.
Glenfarne has been advancing Alaska LNG since becoming lead developer in March 2025.
Over the past 18 months, the company has secured agreements covering LNG sales, North Slope natural gas supply, domestic Alaska gas supply, labor, engineering, pipeline construction, equipment, materials, strategic investment, and partnerships.
Commercial agreements now represent approximately 13 million tonnes per annum of the 16 million tonnes per annum Glenfarne is targeting to support a final investment decision.
Alaska LNG includes an 807-mile, 42-inch pipeline designed to transport natural gas from Alaska’s North Slope.
The project also includes a North Slope gas treatment plant and a 20 million tonnes per annum LNG export terminal in Nikiski, Alaska.
Glenfarne owns 75% of Alaska LNG.
The State of Alaska, through the Alaska Gasline Development Corporation, owns the remaining 25%.
KEY QUOTES:
“This U.S.-Korea investment initiative creates a promising new path to bring together the capital needed to accelerate Alaska LNG toward final investment decision and construction.”
“Today’s announcement brings together the capital needed to accelerate Alaska LNG to a final investment decision and construction.”
Brendan Duval, CEO and Founder of Glenfarne
“This investment gives us the scale of capital needed, and we will keep working to make sure Alaska captures the jobs, economic opportunity and long-term value this project can create.”
Adam Prestidge, President of Glenfarne Alaska LNG
